Citigroup gets a lifeline

Just in time, Citigroup is getting a $7.5 billion investment from the investment arm of the Abu Dhabi government -- the largest of the seven emirates of the United Arab Emirates.

The cash infusion will give the emirate's investment division, called ADIA, nearly a 5% stake in the banking giant -- bigger than the stake that Prince Alwaleed bin Talal of Saudi Arabia has in the company -- and will make Abu Dhabi the bank's biggest shareholder, according to published reports.

Shares of Citigroup were up 9 cents to $30.76 this morning.

Read Full Article from MSN Money

- Posted: 2007-11-27 10:24:47

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