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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (124072)	1/12/2008 2:42:35 PM
From: Wharf Rat	Respond to of 362920

Foreign investors ride in to rescue Citi An investment of even 1 percent from Saudi Prince Alwaleed could signal confidence in the struggling bank, says The Wall Street Journal. is looming. Play video NEW YORK (CNNMoney.com) -- Saudi billionaire-Prince Alwaleed bin Talal and a team of Chinese investors may ride to embattled Citigroup's rescue, according to a report from The Wall Street Journal. Chinese investors, including China Development Bank, will reportedly contribute around $2 billion. It was not known how much would be invested by Prince Alwaleed, but the Journal calculated that his stake in the bank would likely remain under 5 percent, but that even a 1 percent stake would be a vote of confidence. Prince Alwaleed: Why Chuck had to go An earlier report said that Citigroup is trying to raise an additional $10 billion, most of which would come from overseas funds. In November, Alwaleed sold a 4.9 percent stake in Citigroup for $7.5 billion to the Abu Dhabi Investment Authority. Citigroup (C, Fortune 500) will reportedly reveal the investments when it reports its fourth-quarter earnings on Tuesday. money.cnn.com