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U.S. government exits connection with Citigroup

Selling last of its Citigroup bailout securities

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According to Reuters, almost five years after bailing out Citigroup (C) in the financial crisis, the U.S. government is selling the last of its interest in the company.

The Federal Deposit Insurance Corp is offering $2.42 billion of Citigroup bonds on Tuesday, according to a filing by the company with the U.S. Securities and Exchange Commission.

"When the transaction concludes, no U.S. government entity will continue to hold any securities in Citi issued as a result of the financial crisis," Citigroup said in a written statement.

Source: Reuters
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