Citi Getting a New Uncle? (C)

Posted in pre-market 
September 15th, 2009

Citigroup Inc. (NYSE: C) may be in for a huge day.  Last night brought reports that Uncle Same, the U.S. government, might be selling part of its massive stake.  Reports from multiple sources gave October as the month that the sale could begin.  Be advised that this is not a total exit of the government, but it is a start and would lead to the independent recovery of Citi.  This could also take months and months to be completed as this is roughly a 34% stake. Expect this to be today’s most active stock.  At 8:54 AM EST we have seen 23 million shares trade hands and the stock is down 1% at $4.48.-JON OGG

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