Is walking away a negotiating tactic by Korea Devt Bank? Thursday, September 11, 2008
Korea Development Bank (KDB) has ended negotiations with the shaky investment bank Lehman Brothers. Lehmans was looking to sell a stake rumoured to be $6bn to KDB in order to shore up its balance sheet. After the news broke, shares in Lehman fell by 45 per cent in New York yesterday.
Of course, this means that it's much cheaper to buy Lehmans today than it was on Monday. So, knowing that would be the likely consequence, might KDB be following the example of anyone haggling at a Asian market stall and wait for the buyer to implore them to return by offering a lower price?
Labels: lehman, Lehman Brothers, markets, Stock market
posted by John Wilson @ 3:49 PM Permanent Link
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