Buffett says he and Zuckerberg talked for hours, according to a message from CNBC's Becky Quick on Twitter:
Buffett just told me he spoke to Mark Zuckerberg for hours about taking Facebook public. Offered advice. #BuffettWatch #BRK2012
That's not all. At the Berkshire Hathaway annual shareholder meeting today, Buffett says he won't be buying Facebook shares. Well, for now anyway. There's nothing stopping Buffett from changing his mind eventually.
The Berkshire Hathaway CEO was specifically referring to investing in Facebook's initial public offering (IPO), but he did note that what's happening in Menlo Park the is "extraordinary." Buffett told CNBC that "people get excited about companies that have done that well," but didn't elaborate further. He did however deny talks of an Internet IPO bubble.
"It is not a bubble ... this is not what we were seeing in late 1999 all the way into 2001," Buffett was quoted as saying. We aren’t in any bubble phase of anything."
Rumor has it Facebook will launch its actual roadshow Monday and go public in less than two weeks. Shares are expected to be priced on May 17, with trading beginning on May 18.