Tuesday, September 19, 2006

Buffett Wants Utilities

Warren Buffett's investment company Berkshire Hathaway Inc. is interested in acquiring further utility companies in coming years, the U.S. billionaire said on Monday during a visit to Israel.

In March, Berkshire's MidAmerican Energy Holdings Co. unit bought the western U.S. utility PacificCorp from Scottish Power Plc for $5.1 billion in cash...

Buffett told reporters: "We are interested in acquiring additional utilities.

"My guess is in the next 10 years we will buy one or two or three good-sized ones. You never can tell when they will come along."

He added that his firm was familiar with all the utilities in the United States and some outside the U.S.

"We look at anyone that indicates an interest," Buffett said.