Japan's Nomura eyes Lehman bid: report
The president of Japan's biggest brokerage house Nomura Holdings said the company was considering buying a stake in troubled US investment bank Lehman Brothers, a report said on Saturday.
By Agencies |
TOKYO: The president of Japan's biggest brokerage house Nomura Holdings said the company was considering buying a stake in troubled US investment bank Lehman Brothers, a report said on Saturday.
The move would be part of a plan to spend more than 200 billion yen ($1.9 billion) on investment in US and European financial institutions Kenichi Watanabe said in an interview. Lehman "is one of the candidates in which we plan to invest," Watanabe said without elaborating.
A number of overseas banks and securities firms are said to be considering bidding for a stake in Lehman, which suffered billions of dollars in writedowns and credit losses amid the meltdown in US subprime mortgages sector.
A news report from Seoul said the state-run Korea Development Bank (KDB) had offered to buy a 25 per cent stake in Lehman for more than $4 billion.
Japan's largest banking group, Mitsubishi UFJ Financial Group, has denied a news report that it was considering bidding for a stake in Lehman, which will report third quarter results next week.
The move would be part of a plan to spend more than 200 billion yen ($1.9 billion) on investment in US and European financial institutions Kenichi Watanabe said in an interview. Lehman "is one of the candidates in which we plan to invest," Watanabe said without elaborating.
A number of overseas banks and securities firms are said to be considering bidding for a stake in Lehman, which suffered billions of dollars in writedowns and credit losses amid the meltdown in US subprime mortgages sector.
A news report from Seoul said the state-run Korea Development Bank (KDB) had offered to buy a 25 per cent stake in Lehman for more than $4 billion.
Japan's largest banking group, Mitsubishi UFJ Financial Group, has denied a news report that it was considering bidding for a stake in Lehman, which will report third quarter results next week.
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