Citicorp May Sell Stake in Credit Card...
Citicorp May Sell Stake in Credit Card Unit: Hoping to raise $1 billion to bolster its capital, the nation’s largest banking company is considering the sale of a 15% to 20% stake in its huge and profitable credit card business, sources close to the deal said. The partial selloff is one of several alternatives being mulled by Chairman John S. Reed, who announced last month that New York-based Citicorp is seeking an additional $4 billion to $5 billion in equity capital during the next two years.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
