Citi, Wells Fargo extend Wachovia time-out

Citigroup Inc. of New York and Wells Fargo & Co. of San Francisco have extended their legal truce until 8 a.m. ET, Fri. Oct. 10 as they battle over how to divvy up the assets of Wachovia Corp. of Charlotte, N.C.

Citigroup Inc. and Wells Fargo & Co. have extended their legal truce until 8 a.m. ET this Friday as they battle over how to divvy up the assets of Wachovia Corp. of Charlotte, N.C.
A previous truce expired today.
The Wall Street Journal reported today that Wells Fargo of San Francisco was still likely to acquire Wachovia Securities LLC of St. Louis, assuming that a deal is reached.
Most Wachovia Securities brokers are hoping that the deal gets done.
“If we get [bought by Wells Fargo], it changes the whole ball game for Wachovia Securities,” said a Wachovia broker, who asked not to be identified. “If we don’t, it’s a very bad situation.”
Citigroup is based in New York.