Citi (C) And GE (GE) Couldn't Agree Over Price In An Effort To Sell Its Credit Card Business
Down)
The NY Post reported that Citigroup (NYSE: C) held preliminary talks to link its credit-card business to General Electric's (NYSE: GE) credit-card shop, but the two sides couldn't agree on a price so they passed on doing a deal.
The conversations took place earlier this year and focused on either Citi selling the entire credit card business to GE or both companies combining their credit-card operations into a joint venture. However, a deal was unable to happen because Citi wanted to receive a premium for its portfolio of branded and private-label credit cards.
The conversations took place earlier this year and focused on either Citi selling the entire credit card business to GE or both companies combining their credit-card operations into a joint venture. However, a deal was unable to happen because Citi wanted to receive a premium for its portfolio of branded and private-label credit cards.
You May Also Be Interested In
Create E-mail Alert Related Categories
Rumors, Trader TalkRelated Entities
CitiSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
