Treasury To Sell 1.5B More Citigroup Shares Worth $6B

Law360, New York (October 19, 2010, 1:03 PM EDT) -- The U.S. Department of the Treasury said Tuesday that it would unload 1.5 billion shares of Citigroup Inc. common stock, worth roughly $6.24 billion, that represents almost one-third of the department's remaining stake in the banking giant.

The sale would bring the Treasury Department's interest in Citigroup common stock to 7 percent, down from a high of 27 percent following the Troubled Asset Relief Program. It would also mean the department had disposed of almost three-quarters of its original interest in the bank.

Shares of Citigroup...
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