Lehman looks to raise finance
Lehman Brothers has announced plans to sell assets and cut costs in an effort to regain investor confidence.
The proposals include spinning off commercial property, selling all or part of its investment management division and slashing its dividend, the later saving £450 million a year.
The bank also said it would consider offers for the entire group. The shares which were trading at over $60 in 2007 are now worth just $7.25 each.
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