By Kim Yeon-hee 1 hour, 1 minute ago SEOUL (Reuters) - State-owned Korea Development Bank (KDB) confirmed on Tuesday it was in talks with Lehman Brothers (LEH.N) over a possible joint investment in the U.S. bank with other Korean banks, sending Lehman shares higher but depressing local bank shares.Lehman, which has racked up crippling losses and still bears more than $60 billion of mortgage and commercial real estate exposure, is under pressure to raise capital ahead of its earnings announcement this month. The No. 4 U.S. investment bank has explored shedding assets, spinning off its money management arm and selling a significant stake to outside investors.
"Our CEO said talks are ongoing and cannot disclose the content of them," KDB spokesman Sung Joo-young said, referring to Chief Executive Min Euoo-sung. Min ran Lehman's Korea operations until June.
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