MUFG has no plans to invest in Lehman: executive

A pedestrian walks past a signboard at a Mitsubishi UFJ Financial Group (MUFG) bank branch in Tokyo February 15, 2007.

TOKYO (Reuters) - Mitsubishi UFJ Financial Group (MUFG) (8306.T) has no plans to invest in U.S. investment bank Lehman Brothers LEH.N, an executive at Japan's largest bank said, responding to a media report that it was considering taking a stake.

The Times of London reported that the core banking unit of MUFG was poised to enter the bidding for a substantial stake in Lehman. The report sent shares of Lehman higher in after-hours trade.

MUFG has "absolutely no plans" to invest in Lehman, an executive involved in major decisions at the bank told Reuters.

(Reporting by Taro Fuse)