Thursday, November 20, 2008

Citigroup to Hold Unscheduled Board Meeting Friday

by Bill McBride on 11/20/2008 08:29:00 PM

From the WSJ: Citi Weighs Its Options, Including Firm's Sale

Executives at Citigroup ... began weighing the possibility of auctioning off pieces of the financial giant or even selling the company outright ...

Citigroup's board of directors is scheduled to have a formal meeting Friday to discuss the options ... In addition to pondering a move to sell the entire company to another bank, executives have started exploring the possibility of selling off parts of the firm, including the Smith Barney retail brokerage, the global credit-card division and the transaction-services unit, which is one of Citigroup's most lucrative and fast-growing businesses, the people said.
Here is the CNBC story: Citigroup May Seek Merger as Stock Plunges Further