Citi acquires Wachovia banking ops

By Berni | September 29, 2008

Sep. 29 – Wachovia is selling most of its assets to Citigroup in a deal brokered by the FDIC.

Citigroup is paying just over $2 billion dollars in stock for most of Wachovia’s assets. All of the deposits will be safe.

Bobbi Rebell reports from New York.

SOUNDBITE: Guillermo Kopp, Executive Director, The Tower Group

Citi acquires Wachovia banking ops

questions

  1. What has claimed another victim?
  2. What is the FDIC?
  3. How is the transition expected to be?
  4. What will be completely safe?
  5. Ho much debt does Wachovia have?
  6. Which parts of Wachovia are not included in the deal?
  7. What is Citigroup getting?
  8. What does Citi need to meet?
  9. Who are voting on the US government’s bailout plan?
  10. How will Citi pay for the Wachovia deal?

check your answers

go to news bulletin

Home

 

 

Posted in Daily News Bulletins and tagged