Citigroup shares fall on capital worries; talks continue with Morgan Stanley on brokerage deal
Citigroup Inc.'s stock sank Monday to its lowest levels since November as investors wondered how much more cash the troubled bank will need. Citigroup Inc., in an effort to raise capital, is hammering out a deal to sell the bulk of its retail brokerage to Morgan Stanley. The joint venture — expected to be announced later this week — would lead to an after-tax gain for Citigroup of about $5 to $6 billion, a person close to the negotiations said Monday. The person spoke on... Full Story
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