Buffett Denies Interest in Buying Suntech, Business News SaysBloomberg News
Warren Buffett, chairman of Berkshire Hathaway Inc., has no plans to buy Suntech Power Holdings Co., the China Business News said, citing an interview with him.
Buffett said he has never had interest in acquiring the solar company, China Business said, citing comments during an interview at Berkshire Hathaway’s shareholder meeting.
Suntech, the Chinese solar company with its main unit in bankruptcy proceedings, has gained 27 percent since the Hong Kong Economic Times reported on April 8 that Buffett’s MidAmerican Energy Holdings Co. may purchase the company.
Wuxi, China-based Suntech slipped 7.4 percent to 61.14 cents when last traded in New York on May 3, taking its decline for the year to 60 percent. The company said last week that its bankrupt unit will meet with creditors earlier than anticipated as it reported a 48 percent drop in revenue last year.
— With assistance by Feifei Shen