Citi (C) Sells Stake in Pudong Development Bank, Records $349M After-Tax Gain
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Bloomberg reporting Citigroup (NYSE: C) and Pudong Development Bank reached an agreement for Citi to sell some 506.2 million shares of Pudong to a number of institutions. A source has said Citi has recorded at $349 million after-tax gain from the sale of its Pudong stake.
Citi shares are about 10 cents lower from Friday's close early Monday. The stock last traded at $36.59.
Citi shares are about 10 cents lower from Friday's close early Monday. The stock last traded at $36.59.
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