Korea's KDB Confirms Lehman Talks Done

A couple of hours before Lehman is due to release its Q3 earnings, Korea’s KDB confirms that talks are over. The bank’s statement also confirms that one issue was price–which, in turn, suggests that Lehman’s management still may not fully appreciate what a pickle the firm is in:

FT: Korea Development Bank on Wednesday confirmed that it had suspended talks to invest in Lehman Brothers, just hours before the beleaguered US bank is set to announced its third-quarter results.

In a statement, the government-run lender said the decision was “due to disagreements over transaction terms and in consideration of the state of financial markets at home and abroad.”

 

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