Aug. 22 (Bloomberg) -- Korea Development Bank's Chief Executive Officer Min Euoo Sung declined to comment on a Reuters report that the state-run lender is ``open to'' a potential acquisition of Lehman Brothers Holdings Inc.

Reuters, citing an unidentified Korea Development Bank spokesman, said Korea Development is studying a number of options, including buying Lehman.

The government is aiming to privatize the bank by 2012, and acquisitions of domestic and foreign companies may help the company expand ahead of that target.

Lehman spokesman Mark Lane declined to comment when contacted today by Bloomberg. Lehman, based in New York, is the fourth- largest U.S. securities firm.

To contact the reporter on this story: Steve Dickson in New York at sdickson1@bloomberg.net.

Last Updated: August 22, 2008 08:16 EDT