Monday, August 25, 2008

Dismissing a Rumor

A Korean regulator dismissed dismissed Friday's rumor about he Korean Development Bank buying Lehman.
Korean regulator reportedly warns against buying Lehman: "South Korea's financial regulator on Monday warned the Korean Development Bank should take a cautious approach to buying an overseas bank, following KDB's expression of interest in Lehman Brothers 'In principle, taking over a global investment bank can become an opportunity to raise the capability of the [Korean] investment banking business,' Jun Kwang-woo was quoting as saying by the Financial Times. 'But at the same time, as the risks are also big, KDB should take a cautious approach.'"
Translation: It ain't gonna happen. No how, no way.
So who unwound their position during the rumor pop?

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