Citigroup (C) May Have To Carry Citi Holdings For 5 Years Or More

WSJ says that Citigroup Inc. (NYSE: C) may need more than 5 years to sell off Citi Holdings and its constituents’. The Journal quoted Rochdale’s Dick Bove as saying that, Citi Holdings would also put pressure on Citigroup’s profits for quite some time.

Citi Holdings includes Primerica Financial Services, Inc. which is into consumer finance business. Besides Primerica, Citi Holdings has a part of Smith Barney. In 2012, this part of Smith Barney, may be sold to Morgan Stanley (NYSE: MS). There are other smaller units. In the premarket, Citigroup is down 0.24% to $ 4.15 a share.