Split of Citi (C) Now Highly Unlikely, Large Shareholder Says
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For those thinking there still might be a chance that Citigroup (NYSE: C) will split it operations, Saudi prince Alwaleed bin Talal has some news for you: It's not going to happen.
Alwaleed, the largest individual shareholder of Citi, told Reuters today that talk of the bank breaking up is "completely dead." He noted that Citigroup performed best versus peers in the latest stress tests administered by the Fed. He also commented that Citigroup CEO Mike Corbat's conservative strategy is beginning to pay off.
Citigroup has performed well so far this year, with shares up over 20 percent since the start of 2013. The stock is up about 2 percent on Monday's session.
Alwaleed, the largest individual shareholder of Citi, told Reuters today that talk of the bank breaking up is "completely dead." He noted that Citigroup performed best versus peers in the latest stress tests administered by the Fed. He also commented that Citigroup CEO Mike Corbat's conservative strategy is beginning to pay off.
Citigroup has performed well so far this year, with shares up over 20 percent since the start of 2013. The stock is up about 2 percent on Monday's session.
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