Report: Citi fielding bids for Nikko Cordial
Embattled Citigroup Inc. may be poised to sell Tokyo-based Nikko Cordial Corp., Japan’s third-largest brokerage firm, in hopes of raising more than $5 billion, the Financial Times reported today.
Embattled Citigroup Inc. may be poised to sell Tokyo-based Nikko Cordial Corp., Japan’s third-largest brokerage firm, in hopes of raising more than $5 billion, the Financial Times reported today.
The New York-based bank has been accepting bids and is aiming to choose a buyer by the end of April, according to the report.
“We have no comment on the speculation about bids coming in,” said Citigroup spokesman Mike Hanretta.
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