WestLB Regards Orders of Magnitude As 'No Big Deal'

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Everyone’s allowed one “I was drunk” pass and WestLB just used theirs: the company has acquired a 14% stake in DaimlerChrysler—by accident. FT Alphaville reports that it’s not exactly clear how this “slip-up” occurred, but apparently the traders who were recently fired from WLB for taking large positions in Volkswagen were involved with the Daimler transaction. (We’re not really ones for telling people how to live their lives; if you want to drink and drive, more power to ya! But maybe abstaining from drinking and trading would be a wise idea.)
DaimlerChrysler is in the midst of trying to free itself of the dead weight that is the American-portion of its company. Perhaps WestLB would be more interested in that deal, unless of course they’ve already bid on it by accident.
WestLB ‘inadvertently’ amasses 14% in DaimlerChrysler [FT Alphaville via Dealbook]

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