I'm sure the U.S. government is making Citigroup do this, after all we put up $300 billion to keep them from blowing up. Perhaps the name of the combined Citigroup and Morgan Stanley brokerage unit should be "Citi Morg"!-Lou
Citi reportedly to unveil major re-organization
Financial-supermarket strategy may be replaced by focus on banking
By Alistair Barr, MarketWatch
SAN FRANCISCO (MarketWatch) -- Citigroup Inc. will reportedly unveil a major re-organization that will end its efforts to build a global financial-services supermarket, according to media reports.
Citigroup said earlier Tuesday that it's talking with Morgan Stanley about a combination of the two companies' brokerage businesses. The deal could be set up as a joint venture. Morgan Stanley may pay $2.5 billion to Citi for a majority stake and have the option to buy the rest of the unit later, reports say.
Read Article Here:
http://www.marketwatch.com/news/story/Citi-give-up-financial-supermarket/story.aspx?guid=%7b47DFDEBB-1325-4B92-904C-F38B4588F5C0%7d&print=true&dist=printMidSection
Citi reportedly to unveil major re-organization
Financial-supermarket strategy may be replaced by focus on banking
By Alistair Barr, MarketWatch
SAN FRANCISCO (MarketWatch) -- Citigroup Inc. will reportedly unveil a major re-organization that will end its efforts to build a global financial-services supermarket, according to media reports.
Citigroup said earlier Tuesday that it's talking with Morgan Stanley about a combination of the two companies' brokerage businesses. The deal could be set up as a joint venture. Morgan Stanley may pay $2.5 billion to Citi for a majority stake and have the option to buy the rest of the unit later, reports say.
Read Article Here:
http://www.marketwatch.com/news/story/Citi-give-up-financial-supermarket/story.aspx?guid=%7b47DFDEBB-1325-4B92-904C-F38B4588F5C0%7d&print=true&dist=printMidSection
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