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Empresas y finanzas

Citigroup sells stake in Turkey's Akbank for $1.2 billion


    ISTANBUL (Reuters) - Citigroup has sold its nearly 10 percent stake in Turkey's Akbank for $1.2 billion, the U.S. bank said on Thursday, in its latest sale of overseas assets to cut costs and raise profits.

    CITIGROUP (C.NY) which had been the second-largest shareholder in Akbank, also said it aimed to increase its business in Turkey, where it has had a presence for 40 years and employs 500 people.

    (Reporting by David Dolan; Editing by Ece Toksabay)