The Buffett Suntech hoax?

Speculation of Warren Buffett’s MidAmerican Energy buying into bankrupt solar group Suntech has sent the latter’s share price soaring 50 per cent. But it’s likely to prove no more than a late April Fool’s joke.

Warren Buffett has the power to move stocks. He has the power to make the unattractive look attractive. The power to force a double-take on a company (or even economy) that everyone else has written off. But the power to turnaround a bankrupt company with hundreds of millions in debt and next-to-no near-term profit potential?

Surely not.

A rumour swept the globe on Monday night, Australian time, that the investing maestro would back a takeover of the troubled Suntech Power through a subsidiary of his iconic Berkshire Hathaway company.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles