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Buffett Denies Possible Burger King Buy
Wed Nov 27, 7:28 PM ET Add Business - AP to My Yahoo!


By BARRY BEDLAN, Associated Press Writer

OMAHA, Neb. (AP) - Billionaire investor Warren Buffett (news - web sites) doused speculation that he was exploring buying fast-food giant Burger King and accused others of spreading false reports.

"Obviously there are people, sometimes, who have a financial interest in spreading rumors in our supposed interest in a business or security when no such interest exists," Buffett said in a statement released through his assistant Wednesday.


Berkshire Hathaway Inc., the Omaha-based company headed by Buffett, had been mentioned as being among possible bidders for the Miami-based Burger King chain of restaurants.


The chain is being sold by its parent company, Diageo PLC of London, which wants to concentrate on its beverage business.


Buffett and other Berkshire officials in recent weeks have refused to comment on what they described as "only speculation."


Buffett said in the statement he was forced to comment on the Burger King reports after cholesterol fighter Phil Sokolof ran an ad in the Omaha World-Herald on Tuesday asking Buffett not purchase to restaurant chain. An Omaha businessman, Sokolof has spent millions of dollars urging people to stay away from fatty food.


"We never confirm nor deny such rumors. In this case, we made an exception because of Phil Sokolof's ad," Buffett said. "This should emphasize the need for readers of rumors to be suspicious and for the press to properly label rumors as rumors."


Buffett's assistant Debbie Bosanek said Buffett would not comment beyond his prepared statements.


Diageo spokeswoman Isabel Thomas said the company would not have a comment in response to Buffett's statements.


Diageo agreed in July to sell Burger King to a U.S. investor consortium — comprising Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners for $2.26 billion. But the U.S. investors have since insisted on more attractive terms.

Sokolof said Tuesday that he had been considering running his ad in other publications if Buffett pursued buying Burger King. In the ad, Sokolof said that buying Burger King would compromise Buffett's integrity and soil the image of Berkshire Hathaway.

Sokolof did not immediately return a telephone call seeking comment Wednesday.

Buffett's Berkshire Hathaway already has invested in the fast-food industry. The company owns Dairy Queen and holds some shares in rival McDonald's Corp.

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On The Net

Berkshire Hathaway Inc.: http://www.berkshirehathaway.com/

Burger King: http://www.burgerking.com/

[Ulisses Pereira]

... para não comprar a cadeia Burger King!


"Millionaire cholesterol fighter Phil Sokolof is asking billionaire investor Warren Buffett to hold the fries and not purchase the Burger King chain, no matter how appetizing that deal may look.

Sokolof, an Omaha businessman who has spent millions of dollars urging Americans to stay away from fatty food, is running an open-letter ad in the Omaha World-Herald addressing Buffett, who also lives in Omaha.

In it, Sokolof told Buffett: "Buying a mammoth business whose incredibly high-calorie, horribly high-fat foods lead to obesity, diabetes and heart disease would be unconscionable for a man of your stature."

The ad first appeared in the World-Herald's Tuesday morning editions.

Berkshire Hathaway Inc., the Omaha-based company headed by Buffett, has been mentioned as being among possible bidders for the Miami-based Burger King chain of restaurants. The chain is being sold by its parent company, Diageo PLC of London.

Buffett and other Berkshire officials in recent weeks have refused to comment on what they described as "only speculation."

Buffett's office did not return a call seeking comment Tuesday.

Sokolof said he is running the ad initially only in the Omaha newspaper but he might place it in other publications.

In the ad, Sokolof said that buying Burger King would compromise Buffett's integrity and soil the image of Berkshire Hathaway.

"I respect Warren and I know that if he gets a hold of Burger King that he will run with it and it will become even more successful, which means, in essence, more people will die from eating that food," Sokolof said Tuesday.

Buffett's Berkshire Hathaway owns Dairy Queen and holds shares in McDonald's. While those fast-food holdings are also bothersome to Sokolof, he said he is most disturbed by Buffett's possible interest in Burger King.

"Dairy Queen is a pale copy. They sell ice cream that doesn't have nearly as much saturated fat as Burger King's food," Sokolof said. "And while McDonald's food is bad, Burger King's fat content is much worse."

Sokolof earned his wealth by starting and later selling Phillips Manufacturing Co., a maker of products for the drywall industry.

Leader of the National Heart Savers Association, Sokolof said that he has spent $15 million, mostly on newspaper ads, in his campaign to educate people about the dangers of cholesterol and fat.

In the early 1990s, he worked to persuade McDonald's to stop frying its French fries in animal fat. He also paid $2.5 million for a Super Bowl ad in 2001 to promote cholesterol-lowering heart drugs.

Sokolof had the first of two heart attacks when he was 43. He turns 81 on Dec. 14.

"I won't give up on this," Sokolof said Tuesday. "Too many people are dying each day because of this garbage passed off as food."

(in www.timesdaily.com)