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KDB Suspends Talks to Invest in Lehman

Korea Development Bank ended the talks because of disagreements over the terms of the transaction and current market conditions.
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Updated from 2:48 a.m. EDT

State-owned

Korea Development Bank

Wednesday confirmed it has has suspended talks to invest in

Lehman Brothers

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(LEH)

.

KDB said the talks ended because of disagreements over the terms of the transaction and the condition of financial markets around the world.

It was reported earlier Wednesday by South Korean news agency Yonhap that KDB was seeking to acquire a controlling stake in Lehman for about $6 billion.

Shares of Lehman fell 45% Tuesday after a report said KDB and Lehman ended discussions.

This article was written by a staff member of TheStreet.com.