Sorry Lehman, that big Japanese bank says it isn’t interested in saving you, either. Keep looking in Asia though. You’re bound to find someone.
Reuters: Mitsubishi UFJ Financial Group said it has no plans to invest in U.S. investment bank Lehman Brothers (LEH.N), rejecting a media report that it may bid for a stake.
The Times of London said Japan’s largest bank was ready to bid for a “substantial stake” in the subprime-hit Wall Street firm, and may “seek control” of Lehman, sending shares of the U.S. bank higher in after-hours trade.
The Times, citing “senior sources” close to Mitsubishi UFJ, said the bid could come after Lehman’s quarterly earnings results next week.
However a spokesman for Mitsubishi UFJ, who declined to be identified, told Reuters the report was not true.
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