Treasury to sell Citi common shares in 2010

The U.S. Treasury said on Monday it would sell all of the 7.7 billion Citigroup common shares it owns over the course of 2010 under a prearranged written trading plan.

The Treasury, which acquired a 27 percent stake in Citigroup (C.N) during bailouts of the banking giant in 2008 and 2009, said it would sell the shares into the market "through various means in an orderly and measured fashion."

"Treasury intends to initiate its disposition of the common shares pursuant to a prearranged written trading plan. The manner, amount and timing of the sales under the plan is dependent upon a number of factors," the Treasury said in a statement.

Read Full Article from Reuters

- Posted: 2010-03-29 09:30:28

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