Is India safe- What will be the effect on indiaLehman Brothers has filed for Chapter 11 bankruptcy after Barclays and Bank of America abandoned talks to buy the company.
Lehman said that no broker-dealer subsidiaries will be included in bankruptcy filing. It added that it is exploring sale of its broker-dealer operations. It further said that it is in advanced talks with potential buyers for investment management division.
Lehman added that the customers of the company may continue to trade/take action with respect to their accounts.
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