Buffett told CNBC that the bonds are the only junk bonds he is interested in at the moment, adding that some recent issues give new meaning to the word "junk."
NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway <BRKa.N> is paying $2.1 billion to buy TXU junk bonds from Goldman Sachs <GS.N>, CNBC reported on Monday.
Buffett told CNBC that the bonds are the only junk bonds he is interested in at the moment, adding that some recent issues give new meaning to the word "junk."
He called the move a bet on the utility business because of Berkshire Hathaway's familiarity with the sector, the network reported.
(Reporting by Edward Tobin; editing by John Wallace)
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