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Monday, May 14, 2007

Buffett to buy Zurich insurance group?

Warren Buffett is holding $46 bn in cash and was recently reported to be speculating in a foreign currency. He has also been saying he's like to buy a big company, perhaps in insurance. Zurich Financial Services rose 3.2 percent and is valued at $45 bn - see Bloomberg.

That currency hedge wouldn't happen to be Swiss francs, would it?

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