Wachovia's benefits outweigh downsides as battle continues

10/9/2008 | Bloomberg

The truce between Wells Fargo and Citigroup regarding Wachovia has been extended until Friday morning. Although there are significant downsides to acquiring Wachovia, both potential buyers see advantages outweighing those challenges. As the credit crunch continues, Citigroup and Wells Fargo are looking to Wachovia's $445 billion in deposits as a valuable resource.

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