CITIGROUP WEIGHS SALE OR MERGER AFTER SLUMP
'Citigroup considers fire sale as shares dive
Bank sees share price drop below $4 in New York for first time in 15 years / Pandit insists Smith Barney is not for sale
Saturday, 22 November 2008
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The company's shares plunged for the fifth straight day, as the rest of Wall Street followed the twists and turns of a drama every bit as significant as the fall of Bear Stearns or Lehman Brothers earlier in the year.
The situation is different this time, however, because the US government has become a major investor in Citigroup, putting $25bn into the company in October, guaranteeing new debt issued by the company and in effect anointing it "too big to fail". Officials from the Treasury and other regulators were working with Citigroup yesterday as it examined its options for averting a crisis of confidence.......' SOURCE: http://www.independent.co.uk/news/business/news/citigroup-considers-fire-sale-as-shares-dive-1030131.html
http://news.bbc.co.uk/1/hi/business/7741463.stm
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