SEOUL (Reuters) – State-owned Korea Development Bank (KDB) confirmed on Tuesday it was in talks with Lehman Brothers over a possible joint investment in the U.S. bank with other Korean banks, sending local banking shares lower.
Lehman, which has more than $60 billion of mortgage and mortgage security exposure, is under pressure to raise capital ahead of its results announcement this month as Wall Street firms continue to reel from the credit crunch.
