Treasury reduces its stake in Citigroup to about 18%

07/1/2010 | Wall Street Journal, The

The Treasury Department sold 1.1 billion shares of Citigroup stock, bringing its total sales to 2.6 billion shares and reducing its stake in the bank to about 18%. The latest sale brings the government's profit from selling Citigroup shares to more than $2 billion. "We are pleased that Treasury has profitably sold a third of its common shares in Citi, adding to the substantial return for taxpayers realized last year," said Jon Diat, a Citigroup spokesman.

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