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Treasury to sell more Citigroup stock

Associated Press / December 7, 2010

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WASHINGTON — The government said it will conduct another round of sales of Citigroup common stock in its latest effort to recoup costs from the $700 billion financial bailout.

The Treasury Department will sell approximately 2.4 billion shares of Citigroup Inc. common stock. The government said the sale would begin immediately and would end when the government determined that it had received an acceptable price for the shares.

Citigroup received $45 billion in taxpayer support in one of the largest bank rescues by the federal government.