Citi, Wachovia off on deal uncertainty

The Federal Reserve was pushing Citigroup and Wells Fargo & Co to compromise over their competing bids for the hobbled bank that could result in them carving up its assets, people familiar with the matter said.

Wachovia shares were down 14.7 percent at $5.30 before the bell, while those of Wells Fargo dropped 3.6 percent to $33.30.

(Reporting by Ellis Mnyandu; Editing by Kenneth Barry)