Banking, finance, and taxes
Government And Citigroup (C) Do Battle Over $10 Billion
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The government says that Citigroup (C) needs to raise $10 billion. Citi believes otherwise.
According to The Wall Street Journal, if the bank’s view of its status prevails, “Citigroup could wind up having a roughly $500 million cushion above what the government is requiring.”
If Citi does have to raise $10 billion, depending on how onerous the terms are, current shareholders could be diluted by 50%.
Douglas A. McIntyre
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