The Korea Development Bank is said to be negotiating to buy a 25% stake in troubled US investment bank Lehman Brothers but the deal could be blown apart by the emergence of HSBC as a potential bidder, a major Korean newspaper reported today, according to The Times .
The size of the deal emerged just a day after state-backed KDB finally admitted that it was in talks with Lehman – part of what is thought to be a tacit Korean government drive to mould KDB as a global investment bank. Sources close to the talks said that, under the terms currently being discussed, the 25% stake might eventually be raised to an interest of between 40 and 49% in Lehman. TROUBLED LENDERS IN the UK may have tapped the Bank of England's emergency funding scheme for as much as £200bn, according to investment bank UBS - double the most aggressive estimates, The Telegraph rep...
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