Wednesday, 20 January 2010
CNBC VIDEO: Becky Quick One-On-One with Warren Buffett – 21/1/10
Kraft Food’s largest shareholder, billionaire investor Warren Buffett, has come out against the US group’s takeover of UK chocolate-maker Cadbury.
“I’ve got a lot of doubts about the deal,” Mr Buffett told US television station CNBC. “If I had the chance to vote on this, I’d vote no.”
Mr Buffett’s comments come a day after Kraft announced that it had agreed to buy Cadbury for £11.5bn ($19bn).
Before the deal was agreed he had urged Kraft not to overpay for the UK firm.
Mr Buffett owns his 9.4% stake in Kraft through his Berkshire Hathaway investment group.
He also said he questioned Kraft’s decision to sell its North American pizza business for $3.7bn earlier this month to help raise the funds to pay for the Cadbury deal.
“I feel poorer,” said Mr Buffett.
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