Moving to a ‘Defensive’ Position : OH NO WE AREN’T

Berkshire Hathaway Inc. said it isn’t considering investing in telephone companies to be sold in July in the breakup of Telebras, contrary to statements by a Brazilian money manager. Opportunity Capital, one of Brazil’s biggest money managers, said last week it has approached Warren Buffett, Berkshire’s chairman, about a joint bid.

“This is absolutely false,” said Marc Hamburg, Berkshire’s treasurer. “He’s never met or spoken with anybody.”

Hamburg had declined to comment last week on Opportunity’s statement.