Tuesday 16 March 2010
Billionaire Alwaleed happy with Citigroup's Pandit
The Saudi billionaire with the largest individual stake in Citigroup Inc. on Monday ruled out boosting his investment firm's holdings in the U.S. banking giant at present, but predicted its best days are yet to come.
Alwaleed bin Talal, who owns a 95 percent stake in the Saudi Arabia-based Kingdom Holding Co., also reiterated his support for Citigroup's chief executive, saying he believed Vikram Pandit was "doing great."
"I believe the worst is behind Citigroup, and ... only good days are ahead," Alwaleed told The Associated Press, speaking after an event at the American University in Cairo.
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