Citigroup may need more capital, Dubai says |
| Earthtimes - Mar 4, 2008 |
Citigroup Inc , the largest U.S. bank, may need "a lot more money" from outside investors after billions of dollars of write-downs tied to subprime mortgages, the head of Gulf investment agency Dubai International Capital said.
Shares of Citigroup, a Dow Jones industrial average component, fell 67 cents, or 2.9 percent, to $22.42 in pre-market electronic trading. The shares have not traded below $22.47 in regular trading since November 1998. Through Monday's close, they had fallen 53.1 percent in the last year.
New York-based Citigroup in January slashed its dividend 41 percent, and has since November raised some $30 billion of capital from investors including Abu Dhabi, Kuwait and Saudi Prince Alwaleed bin Talal.
Read Full Article from Earthtimes
- Posted: 2008-03-04 09:48:47
| More Stock Investor Place Financial News |
 |
|
|
|
| Stock Investor Place Financial News Archive |
|
|
|
