Billionaire Warren Buffett said his Berkshire Hathaway Inc. won't buy a stake in Bear Stearns Cos. and that he ''never came close'' to acquiring shares of mortgage lender Countrywide Financial Corp., which fell 61 percent this year.
Buffett also said Berkshire sold all its stock in PetroChina Co., a company that has been the target of a divestment campaign by human rights groups.
Buffett denied a New York Times report published last month that said he might buy as much as 20 percent of New York-based Bear Stearns, the fifth-largest U.S. securities firm, during an interview on News Corp.'s Fox Business Network.
"That was an incorrect story,'' he said. "We were not taking a stake. That one had no basis.''
Read the complete story
Buffett also said Berkshire sold all its stock in PetroChina Co., a company that has been the target of a divestment campaign by human rights groups.
Buffett denied a New York Times report published last month that said he might buy as much as 20 percent of New York-based Bear Stearns, the fifth-largest U.S. securities firm, during an interview on News Corp.'s Fox Business Network.
"That was an incorrect story,'' he said. "We were not taking a stake. That one had no basis.''
Read the complete story
