Citigroup may sell Nikko Cordial

April 26 2009 16:43:49

Citigroup may sell Nikko Cordial

Bloomberg

Citigroup selected Sumitomo Mitsui as the preferred buyer for Nikko Cordial Securities after Japan’s second-largest bank by market value outbid rivals with an offer of about 500 billion yen ($5 billion), said the people, who declined to be identified as the negotiations are confidential.

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