Citi shares down on concerns of US government sale

Citigroup Inc (C.N) shares closed down almost 9 percent on Tuesday after reports the government might begin shedding its stake in the New York-based bank... Citigroup, eager to escape the burden of a significant government ownership stake, is in talks with U.S. officials about selling part of the government's 7.7 billion shares in the bank, sources familiar with the situation said.

The bank, which on Tuesday sold $5 billion in debt backed by the Federal Deposit Insurance Corp, may also look to sell about $5 billion of new stock to partially repay other Citi securities owned by the government, sources said...

Reuters: Citi shares down on concerns of US government sale