Banking, finance, and taxes
Citigroup (C) Shares Off 40% After Government Deal
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Whatever stock options Vikram Pandit, his management team and board have are almost certainly worthless now.
News that the federal government will own 36% of Citi’s common shares through a complex deal have the stock off 40% to $1.48.
It’s not terribly good news for anyone who bought shares in the last four weeks hoping a rescue would drive the stock up.
Douglas A. McIntyre
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