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Lehman makes second Indian buy in a week

Lehman Brothers has bought into a second Indian financial services business in less than a week, with the purchase of just over a quarter of Mumbai-based investment bank ECL Finance.

Lehman Brothers spent 1.8bn rupees (€32.5m) buying a 26% stake in ECL Finance, according to Indian daily Business Standard, a week after acquiring Brics Securities, a Mumbai-based institutional broking business.

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