Citigroup Negotiating With Local Bidders For Its Russian Operations: FT - Citigroup (NYSE:C)

Citigroup Inc C is in talks with local buyers in Russia over a potential sale of its operations in the country, the Financial Times reported, citing people familiar with the matter.
The bank is in negotiations with privately-owned Russian companies, including Expobank and insurance company Reso-Garantia for the divestiture, the report said.
Related: Citigroup In Talks With Potential Buyers For Russia Retail Ops: Bloomberg.
Financial Times report also added that Société Générale’s former Russian subsidiary, Rosbank, owned by Vladimir Potanin, has also expressed interest in buying Citi’s operations.
Earlier, Potanin said he was not interested in buying more banks after acquiring a stake in fintech TCS. He said he was forced into the sale by the Kremlin after criticizing the war.
Price Action: C shares are up 0.24% at $46.10 during the premarket session on the last check Friday.
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Posted In: Large Cap M&A News Rumors General Briefs Russia-Ukraine War Ukraine crisis Ukraine-Russia War