Citigroup may sell Nikko Cordial

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.