Citi to put online bank Egg up for sale

Egg, which was created by Prudential before being sold to Citi in 2007, could attract interest from UK and international groups, including Spain's Santander and Tesco's Metro Bank, analysts say, the Financial Times reports. A disposal of Egg would help Citi in its quest to dispose of more than $800bn (£501bn) in non-core assets following the huge losses it suffered during the financial crisis. It is unclear whether the US group would reap a profit from the sale of Egg, estimated to have more than two million customers, for which it paid £575m three years ago. Read more...