Monday, December 6, 2010

"Citigroup: Treasury to Sell Last of Common Stock" (C)

From MarketBeat:

Dow Jones Newswires Michael Crittenden reports:
The U.S. Treasury Department said Monday it would begin selling off the remaining 2.4 billion shares of Citigroup Inc. common stock the government has held as a result of aid provided to the bank during the financial crisis.
The planned sale, which the Treasury said would only be completed if it receives an “acceptable price” for the shares, would not end Citi’s ties to the government. The Treasury would continue to hold warrants for the bank’s common stock, and is eligible for an additional $800 million in trust-preferred securities tied to government guarantees on Citi’s debt....MORE
Deal Journal headlined their post:
Government Washes Its Hands of Citigroup