Treasury unloading Citigroup shares
WASHINGTON — The Treasury Department says it will begin selling the stake it owns in Citigroup.
The government received 7.7 billion shares of Citigroup Inc. in exchange for $25 billion it gave the bank during the 2008 credit crisis. It says today it will sell the shares over the course of this year, depending on market conditions.
Citi was one of the hardest hit banks during the credit crisis and recession. It received a total of $45 billion in bailout money. Citi repaid the other $20 billion it owed the Treasury in December.
The Treasury says Morgan Stanley will handle the sale of the shares..
Citi is up 8 cents at $4.39 in pre-market trading.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Treasury unloading Citigroup shares”
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- MBJ Special report: MDA numbers help with cities’ retail pitches
- COO of TL Wallace Construction keeps eye on revenue growth and profits
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- RAISING AWARENESS — Lori Newcomb, family join fight against ovarian cancer
- DREAMS AND OYSTERS — Houstons set for August opening of Saltine in Fondren
- Isle of Capri reports decreased in-state revenues; experiencing 'market pressures'