HSBC Holdings PLC and an unidentified Chinese bank have emerged as potential buyers of troubled Wall Street giant Lehman Brothers Holdings Inc., The Chosun Ilbo, a South Korean newspaper, reported today.
London-based HSBC and the Chinese bank, along with some top U.S. hedge funds, are competing with the Korea Development Bank, which has proposed buying a 25% stake in Lehman Brothers for between $4.4 billion and $5.3 billion, the report stated.
Joining the party, The Bank of Tokyo-Mitsubishi UFJ is also interested in bidding for a major stake in Lehman Brothers, according to London’s The Times website, citing a banking industry source.
Seoul, South Korea-based KDB confirmed yesterday that it is in discussions with New York-based Lehman Brothers over a potential acquisition with other Korean banks, but did not give any details on the potential agreement (InvestmentNews, Sept. 2).
Spokespersons for HSBC and Lehman Brothers declined to comment.
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