- 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
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.