IndiaInsurance
30th August 2010, 05:50 PM
US billionaire Warren Buffett is interested in buying Royal Bank of Scotland s insurance business Direct Line, a report said. Spiralling claims from car accidents have led to heavy losses at RBS s insurance arm and the bank has brought in a team of advisors to help sell the business, according to the Sunday Times. RBS -- which is 83-per cent state-owned after being bailed out by the British government -- has been ordered by the European Commission to sell Direct Line to fall into line with competition rules. Berkshire Hathaway, the investment vehicle owned by Buffett, is among a clutch of ...
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More... (http://in.biz.yahoo.com/100830/50/baw6dk.html)