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Kuwait eyes US banks as Lehman Brothers seeks cash
Summary from the United Kingdom, from articles in English
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The Kuwaiti sovereign wealth fund's continuing interest in Wall Street came as it emerged that Lehman Brothers had contacted overseas investors seeking cash to repair the damage to its balance sheet from an estimated $4 billion of mortgage-related losses this year. (article 1)
Lehman, which is also preparing a rights issue as an alternative to a cash injection from an overseas bank, is thought to have contacted at least one potential investor in South Korea. (article 1)
In Citi or in Merrill, if there is a good opportunity, we will look into it. (article 1)
KIA was part of a consortium that invested $6.6 billion in Merrill in January and another investor group that injected $12.5 billion into Citigroup on the same day. (article 1)
Brad Hintz said: " With Wall Street at the moment, it's very much like Dirty Harry. (article 1)
Although the US Federal Reserve is unlikely to close the window in September, Lehman appears to be amassing capital just to be safe and other financial institutions are likely to do the same, Mr Hintz said. (article 1)
Their earlier drop was fuelled by concerns that the bank faces hundreds of millions of dollars in losses on investments that it made to hedge against risks in its asset portfolio. (article 1)
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Event tracking:
Story keywords
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Lehman, shares, Bank, billion, Financial |
Source articles
- Kuwait eyes US banks as Lehman Brothers seeks cash (business.timesonline.co.uk, 06/05/2008, 409 words)
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blaster@cs.columbia.edu
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