Thursday, November 20, 2008

Citigroup

Forbes: "Citigroup couldn't get a break Thursday morning, even after Saudi Prince Alwaleed bin Talal gave the bank a vote of confidence. Before the bell, Alwaleed, Citigroup's largest individual investor, announced his plans to increase his stake to 5.0%. Alwaleed said he believes the shares are "dramatically undervalued" following a nearly 90.0% plunge since late 2006." Abu Dhabi Investment Authority had been Citigroup's largest investor with a 4.9% stake a year ago.

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