According to Belgian newspaper “De Tijd” (1,8 EUR, -2,70%) Bank Belgium sold a € 71.1m Lehman claim to (180,5 GBp, -1,55%) for an undisclosed amount. Generally that kind of claims are sold at a few cent per dollar, pending the likelyhood that there will be any recoveries.
The price receive is most likely not material enough to affect our investment case. The main reason to sell the claim, in our view, is to get it out of you're books and stop litigation costs, while receiving a small amount.
We remain Accumulating with an unchanged target of € 3.50