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SMF Blogs > Fundamental Analysis > February 2009 > C Citigroup to sell a portion of stake in Redecard

C Citigroup to sell a portion of stake in Redecard

We have told investors and traders worldwide what it would take the start the rally and this here has to stop and bottom out for the markets to look forward as they have no clarity and therefore the selling keeps up. 

We are going to be teach people how this works going forward in our SMF Economic Club you can sign up now by sending an email to info@stockmarketfunding.com or by calling us today at 702-685-0772 we will be happy to update you so that you can start planning your futures moving forward.   
 
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WSJ reports the co, taking another step to shrink its sprawling empire, plans to sell a large chunk of its minority stake in Brazilian credit-card company Redecard, according to people familiar with the matter. Citigroup owns roughly 17% of Redecard's outstanding shares, which trade on the S?o Paulo stock exchange. The New York company plans to sell a portion of its stake to Brazil's Banco Itau, which is a co-owner of Redecard, say the people familiar with the matter. Citigroup is also preparing to sell some Redecard shares on the open market, the people say. It isn't clear exactly how much of its Redecard stake Citigroup is planning to sell. Executives hope the transactions, which could be announced as early as next week, will generate up to $1 billion for the beleaguered bank, although one person cautioned that will depend on how much the shares fetch on the open market. 
 
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Posted: 2/20/2009 8:17:26 AM by StockMarketFunding | with 0 comments


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