U.S. government to own up to 36% of Citi
Postato da admin in WWBN il 02 28th, 2009 | nessun commento
The move, which will also install three new directors, presumably aligned with the government’s interest in mind, sent Citi shares down more than 30% as the firm also reported another $10 billion in fourth-quarter losses and said it will suspend common- and preferred-stock dividends.
Citi’s shares closed off 39% to $1.50.
The shares had fallen as much as 50% before the bell.
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