Standard Chartered, Barclays and Nomura are battling to acquire the flagship Asian operations of Lehman Brothers, the collapsed US investment bank.
Top executives of the trio spent the weekend in talks with Lehman trying to assess the value of its regional assets, which include its investment banking, fixed income and equity divisions. Each was expected to submit bids around midnight in Hong Kong.
People close to the discussions said there had also been preliminary enquiries from Samsung of South Korea and Citic, the Chinese conglomerate.
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