Dow Jones
is reporting that South Korea's Financial Services Commission
Chairman Jun Kwang-woo has said that talks between state-run KDB and
Lehman have ended. While Jun did not say what the result of the
discussions were, he did tell the newswire that "there will be other
opportunities (for KDB)."
The loss of KDB removes Lehman's favored suitor from the playing field,
and significantly narrows
the investment bank's options. HSBC Holdings plc
has been mentioned as another party interested in making a big cash
infusion, and Lehman may also redouble its efforts to auction off its
asset management arm to private equity firms. The bank is also exploring the option of spinning off some of its real estate assets into a separate company.
- George White
See Dow Jones story
See breakdown of Lehman's options on TheDeal.com
