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Lehman in talks with KDB to raise 3.3 billion pounds

Reuters UK – Lehman Brothers has intensified talks with Korea Development Bank to raise as much as $6 billion (3.3 billion pounds) in a share sale that could be concluded this week, the Sunday Telegraph reported.

South Korea’s KDB KDB.L could buy up to 25 percent of the struggling U.S. investment bank, the paper said, without specifying sources. A spokesman for state-run KDB declined to comment.

A senior source at the Financial Services Commission FSC.L, told Reuters South Korean authorities would not oppose or support any deal until price details were known.

That appeared to mark a shift by the regulator, which previously said KDB should let local private banks take the lead in any international acquisitions, dashing hopes for a direct deal with Lehman.

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