Financial News

Citigroup Walks Away from Wachovia Transaction

Citigroup (C) announced Thursday that it was walking away from its attempts to buy Wachovia’s (WB) banking operations, handing victory to Wells Fargo (WFC). New York-based Citi stated that after following several days of discussions about matters related to Wachovia ; dramatic differences in transaction structures and views of risks made mutually acceptable agreements impossible. Citigroup agreed [...]
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