Shares in the beleaguered Wall Street firm Lehman Brothers sank some 40 percent in Thursday morning trading to $4.38 per share, representing a shrunken market capitalization of roughly $3 billion (€2.15 billion).
It follows the bank's announcement yesterday that it would spin off its $30 billion (€21.4 billion) commercial real estate operation into a separate public company in a bid to prevent it from collapsing at the same time as selling a 55 percent stake in its investment management division.
