Summary Box: Treasury to sell Citigroup shares
Associated Press, The ”AP Financial News ”
CITIGROUP SALES: The Treasury Department on Tuesday authorized the sale of an additional 1.5 billion shares of Citigroup stock to begin immediately.
FOURTH ROUND: The sales are the fourth round of sales as the government attempts to recoup the $45 billion it spent to rescue Citigroup during the financial crisis.
CURRENT OWNERSHIP: The stock was obtained when the government converted $25 billion of its support into common shares. It originally owned 27 percent of Citigroup but that ownership will be down to 7 percent at the end of the current round of sales.
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