Citigroup Executives Consider Sale Of All Or Part Of Bank

(Citibank is OVER THERE)

Evening RHOMers. Here is some news, Citibank top executives are considering the sale of all or parts of the company. Well I hope Citibank can get back up on its feet and brush this off as I really want to be a gold card member at Citibank when i get rich (Dreaming Big Here).

Yahoo News:

WASHINGTON (AFP) - - With Citigroup stock value plunging, top executives at the financial giant are considering the sale of all or parts of the company, the Wall Street Journal reported on its website. The debate within the company is at a "preliminary stage," and officials said the company has "ample capital, funding and strategic direction," the daily said. The sale option is one of a range of dire scenarios company executives were considering after Citigroup stock fell another 26 percent Thursday, after a 23 percent drop on Wednesday.The company's board of directors is expected to meet Friday to discuss options to reverse the stock slide, people familiar with the situation told the daily. Citigroup, a component of the blue-chip Dow Jones Industrial Average, has tumbled more than 70 percent since the start of the year, with the bank hit by hefty writeoffs linked to the US real estate crisis. Chief Executive Vikram Pandit and other company executives have told colleagues they are frustrated and confused by this week's 50 percent stock decline, the daily said. Citigroup stocks on Thursday closed at 4.71 dollars, their lowest level in 15 years, despite Wednesday's announcement by Saudi Arabian investor Prince Alwaleed bin Talal bin Abdulaziz Al Saud that he would increase his holdings in Citigroup Inc. to 5.0 percent, adding that he supports the banking giant's management.

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