Seoul - South Korea's state-run Korea Development Bank (KDB) said Wednesday that it had abandoned talks about acquiring a stake in the ailing US investment bank Lehman Brothers.
"Korea Development Bank has stopped negotiations with Lehman Brothers because of differences over the conditions of a transaction," a KDB spokesman said in Seoul.
The decision was also made in consideration of the financial markets at home and abroad, he added.
Jun Kwang Woo, chairman of South Korea's Financial Services Commission, called on KDB Monday to be cautious over a Lehman Brothers deal in regards to the bank's privatization plans.