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Sources Say Citi Not Talking To Feds On Nationalization

Feb 20, 2009 | Reprints | Print

Citigroup Inc. is not having conversations with the U.S. government about nationalization, two people close to the bank said Friday.

The U.S. Treasury has not disclosed much more to Citigroup than it has to the broader public about its plans for the banking sector, the people said.

Rumors of nationalization hammered U.S. bank shares on Friday, with Citigroup among the hardest hit – its shares fell 19.5 percent on Friday morning to $2.03, and traded as low as $1.94.
(Reuters)

Banking & Lending