Citigroup Negotiating With Local Bidders For Its Russian Operations: FT

  • 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.
  • Photo via Wikimedia Commons
Loading...
Loading...
C Logo
CCitigroup Inc
$85.02-0.12%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
84.06
Growth
68.05
Quality
18.66
Value
Not Available
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Comments
Loading...