'A humble man.’ Warren Buffet
Photo: AP
Buffet may cancel Israel trip due to possible probe
Following record-breaking deal to purchase the Israeli company Iscar, Warren Buffet may cancel his trip to Israel due to possible State Comptroller investigation into deal
The Israeli State Comptroller may initiate an investigation into the purchase of Iscar by Warren Buffet before the deal is even finalized, according to senior executives close to the billionaire.
According to the sources, rumors that the State Comptroller’ Office intends on investigating the deal, at such an early stage, have put Buffet's scheduled visit to Israel in doubt.
The final stages of the deal are scheduled to be completed by august 2006. Iscar is the first investment by Buffet to have its control center outside the United States.
"Buffet is a humble man who asks for no recognition," a source said. "An investigation by the State Comptroller even before even anything is signed is outrageous. Israel is shooting itself in the foot."
The sources also added that a State Comptroller investigation may also influence Bill Gates’ plans to further invest in Israel. Gates is also a member of Buffet's board of directors
The State Comptroller received complaints from the Citizens for Proper Administration organization, saying that publication on the matter suggest that the seller, the Wertheimer family, and the buyer, Warren Buffet, received far-reaching benefits that will reduce the tax the State is expected to collect from such a deal.
