☰

Empresas y finanzas

Treasury begins sale of Citigroup stake


    WASHINGTON (Reuters) - The Treasury said on Monday it was launching its plan to sell off its 7.7 billion share stake in Citigroup in an orderly manner.

    The Treasury said in a statement it had given Morgan Stanley discretionary authority to sell up to 1.5 billion common shares under certain parameters set out in a pre-arranged written trading plan.

    The Treasury said it expected to provide Morgan Stanley with the authority to sell more shares after the initial amount.

    (Editing by Theodore d'Afflisio)