ZURICH - Swiss investment fund, Reinet Investment, said Monday it is in negotiations to buy part of the remnants of failed Wall Street giant Lehman Brothers.

No details of the talks over Lehman Brothers Merchant Banking were given.

"The talks are continuing" with the Lehman administrators, Reinet said in a statement.

"No formal agreement has been reached for the moment."

Reinet was set up in October last year after the division of the conglomerate Richemont into Richemont, which will concentrate on the luxury industry, and Reinet Investment which acts as an investment fund, quoted in Luxembourg. - AFP/vm