Thursday, 27 May 2010
The Citigroup bandwagon may have a new passenger.
The Financial Times reports that the Qatar Investment Authority is mulling whether to buy a big slug of the Treasury Department’s 7.7 billion-share stake in the New York financial-services company.
University of Louisiana Finance Professor Linus Wilson would argue that the Treasury should run–not walk–to Qatar to do a deal. Wilson has been watching with trepidation as Citigroup’s shares have fallen to as a low of $3.65 last week from a six month high of $4.97 on April 20, amid the broader swoon in the stock market.