Executives at Citigroup, faced with a plunging stock price, began weighing the possibility of auctioning off pieces of the financial giant or even selling the company outright, according to people familiar with the matter, The Wall Street Journal reports.
The internal discussions are at a preliminary stage and don't signal that Citigroup's board and management are backing down from their insistence that the New York company has ample capital, funding and strategic direction, these people said. But with the stock down another 26% Thursday, its worst one-day percentage decline ever, Citigroup officials have decided they need to reckon with a range of scenarios that were unthinkable only weeks ago. INVESTORS STAMPEDED INTO US government debt yesterday, viewing it as the only safe haven from a new round of losses in the rest of the credit ma...
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