Empresas y finanzas

Citigroup may sell more Japan operations

13/04/2009 - 16:08

TOKYO (Reuters) - Citigroup has told potential buyers of its Japanese retail brokerage arm, Nikko Cordial, that it may also be willing to sell its investment banking and asset management operations in Japan, four sources familiar with the matter said.

Nikko Cordial Securities, a brokerage with about 110 branches across Japan, was put up for sale in February, drawing interest from the country's top three banks, Mitsubishi UFJ Financial Group <8306.T>, Mizuho Financial Group <8411.T> and Sumitomo Mitsui Financial Group <8316.T>.

CITIGROUP (C.NY)may now also sell all or part of Nikko Citigroup, its investment banking arm, and Nikko Asset Management, its fund management division along with the retail brokerage, said the sources, who asked not to be named because they were not authorized to speak publicly about the bidding.

(Reporting by Taro Fuse and Emi Emoto)