Treasury Sells 1.1B More Citigroup Shares For $4.3B

Law360, New York (July 1, 2010, 4:20 PM EDT) -- The U.S. Department of the Treasury has sold off another 1.1 billion shares of Citigroup Inc. common stock for about $4.3 billion, the department said Thursday, as it continues its efforts to shed the stake it acquired in the financial behemoth through the Troubled Asset Relief Program.

The move is the second trading plan the Treasury Department has completed using Morgan Stanley as sales agent to sell some of the 7.7 billion shares of Citigroup common stock acquired in 2009 as part of an exchange offer....
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