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US treasury prepares to sell off Citigroup stake

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US treasury prepares to sell off Citigroup stake

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The US treasury is reportedly preparing to announce a sell-off of its 27 percent stake in the bailed-out bank Citigroup. Details could come next month but sources close to the matter say the treasury would be able to dictate how many shares to sell, when and at what price, all as part of a preset trading plan for which Washington would have a strict calendar. Citigroup had to be thrown more than 30 billion euros of US taxpayers money in 2008 to prevent it sinking.