Tokyo Mitsubishi Bank (MTU): No Plans To Save Lehman (LEH)

The latest foreign suitor that might sweep in and rescue Lehman Brothers (LEH) is Japan’s largest bank, Tokyo Mitsubish (MTU). The Times of London, citing anonymous, highly-placed sources, says that the Japanese bank regards a prospective Lehman acquisition as a “once in a lifetime” opportunity. A spokesman for the Japanese bank said that there was “no truth to the report.” The Times:

Senior sources close to Tokyo Mitsubishi say that the possible acquisition is being treated as a “once in a lifetime” opportunity but that the notoriously conservative bank would proceed with caution.

Tokyo Mitsubishi, which has ample sources of funding for a multibillion-dollar acquisition, is expected to keep its powder dry until after Lehman announces its third-quarter results next week.

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