Bob
14th January 2010, 01:27
Zhongshen has issued a denial over reports that US investor Warren Buffet (or more accurately, his company Berkshire Hathaway) has shown interest in the company.
According to Reuters, following a rumour that Zhongshen chairman Zuo Zongshen is to visit the US to meet Buffet, share prices in the Chinese company leapt, hitting a two-year high.
Zhongshen are working on developing an electric motorcycle, and this is where the Buffett rumours arise, as Berkshire Hathaway has previously bought stock in BYD – a manufacturer of electric cars and batteries.
According to Reuters, following a rumour that Zhongshen chairman Zuo Zongshen is to visit the US to meet Buffet, share prices in the Chinese company leapt, hitting a two-year high.
Zhongshen are working on developing an electric motorcycle, and this is where the Buffett rumours arise, as Berkshire Hathaway has previously bought stock in BYD – a manufacturer of electric cars and batteries.