Citigroup eyes options, including merger

Reuters – Citigroup Inc lost more than one-quarter of its market value on growing worries over whether it has enough capital to withstand billions of dollars of potential losses and despite new support from its largest individual investor.

The second-largest U.S. bank by assets is looking at options now, including a sale of parts of the company or a merger with another firm, after its stock fell 50 percent this week, a person familiar with the matter said on Thursday.

Discussions so far have been internal, and some options –such as entering into a merger where other executives end up running the company — are unpalatable to managers at Citigroup, the person said. The bank’s board of directors is set to meet on Friday, and Morgan Stanley is not

Read Complete Article

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Comments are closed.