In yet another OMG piece of news, Citigroup (C) is hovering around $4 and is in free-fall mode. It’s amazing to see such a huge financial institution fall from a stock price of $50+ to almost nothing.
The board is currently meeting to asset their options to either sell part or all of the company to potential buyers (which few exists).
Their options:
- Sell the whole thing, but most companies wouldn’t want the whole company.
- Sell parts (like the brokerage business Smith Barney or its Global Transaction Services, both of which is doing quite well).
- Merge with someone like Goldman Sachs, because at least they are looking for deposits (assuming Citi doesn’t get a run on the bank)
It’s hard to see how they can survive because their stock price will be next to nothing soon and perception will be trashed.
Citibank, whatever you will end up doing, RIP.
{ 0 comments… add one now }