Warren Buffett on Saturday said he was encouraged by the promises of the founders of Google to communicate openly with investors as the search engine prepares for a much anticipated initial public offering.
Internet search engine Google on Thursday said it planned to go public by selling $2.7 billion in stock through a novel online auction. Sergey Brin and Larry Page, the company`s founders, promised an "owners manual" for prospective investors inspired by Buffett`s letters to Berkshire shareholders.
"It pleased us enormously that other managers want to talk to their owners in a very honest, straight forward manner," Buffett said at the shareholder meeting of his Berkshire Hathaway when asked about Google. "It is going to be a lot of fun to read their annual reports."
Buffett, notoriously averse to technology, referred to Google several times in his remarks to shareholders.
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