Mr. Mayo said he would make his thoughts public on Monday.
Citigroup Inc (C.N) said it "very clearly" rebutted prominent bank analyst Mike Mayo's criticisms in a much-publicised meeting with top executives....From Bailout Sleuth:
..."(Mayo) raised several topics that he has written about recently in his research reports. He has been flat-out wrong and those criticisms were rebutted very clearly," Citigroup spokesman Jon Diat wrote in an emailed statement on Friday....
Bloomberg has more detail on the stock sale numbers....Treasury still owns 3.6 billion shares of Citigroup stock, or about a 12.4 percent ownership stake in the company. It will continue to sell those shares, which are worth $14 billion, on the open market.(For more information on how Treasury got the securities and the common stock, read this post).And Treasury is poised make even more money off of Citigroup beyond that. It holds a bounty of warrants for Citigroup common stock because of the company's participation in three different TARP programs.The holdings include 210.1 million warrants from the Capital Purchase Program, 188.5 million warrants from the Targeted Investment Program and 66.5 million shares through Asset Guarantee Program....MORE