Lehman couldn’t secure Korean Funds: report (Reuters)
One source told the paper that Lehman was aiming to raise more capital than the Korean investor was willing to invest at the time.
The rigid terms of the deal could not be lettered, the paper said.
Lehman has more than $60 billion of mortgage and mortgage security exposing., to what losses are creeping higher even on loans to the highest quality borrowers.
The investment bank is considering selling at in the smallest degree part of its asset management unit, one of its best-performing assets, vulgar herd close to the matter said in continuance Monday.
Shares of the fourth-largest U.S. investing. bank fell 13.04 percent, or $1.96, to close at $13.07 Tuesday on the New York Stock Exchange.
Lehman could not have existence without delay reached for comment. (Reporting by Ajay Kamalakaran in Bangalore; Editing by the agency of Erica Billingham)
Original text: http://us.rd.yahoo.com/dailynews/rss/business/*http://news.yahoo.com/s/nm/20080820/bs_nm/lehman_korean_funds_dc
