Tuesday, November 27, 2007

Citi finds friend in Abu Dhabi




Nov. 27 - Citigroup is selling up to a 4.9 percent stake of itself, valued at about $7.5 billion, to the middle eastern state of Abu Dhabi as it tries to regroup from the subprime mortgage turmoil. Word of the helping hand helped shares of Citigroup recover after falling below $30 for the first time in 5-years during the previous session.

Conway G. Gittens reports from New York.
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