Citigroup plans to repay a portion of the $45 billion government bailout with the issuance of new shares.
From The Associated Press:
NEW YORK — Citigroup Inc. is reportedly considering a plan in which the Treasury Department would sell part of its holdings in the bank, while the bank would issue new shares to the public as part of a multibillion-dollar stock offering.
The Wall Street Journal, citing unidentified people familiar with the matter, said Citigroup executives plan to present the idea to the Treasury Department soon.
