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Qatar wealth fund keen to buy U.S.'s Citi shares: report

A Citibank logo is seen in Taipei March 8, 2010. REUTERS/Nicky Loh

A Citibank logo is seen in Taipei March 8, 2010.

Credit: Reuters/Nicky Loh

LONDON | Tue May 25, 2010 9:29pm EDT

LONDON (Reuters) - Qatar Investment Authority, the country's sovereign wealth fund, is keen to buy part of the U.S. Treasury's stake in Citigroup Inc (C.N), the Financial Times reported in its Wednesday edition.

Citing people familiar with the matter the paper said QIA was considering purchasing some of the U.S. Treasury's 27 percent stake in Citigroup, but warned any deal would be dependent on price and market conditions.

The U.S. treasury said in April it was launching its plan to sell of its 7.7 billion share stake in Citigroup. Morgan Stanley is advising the U.S. government on the sale of up to 1.5 billion common shares.

The FT said the sale of the first tranche of the stake should be finalized in the coming days, according to a person familiar with the matter.

Citigroup declined to comment. QIA could not immediately be reached for comment.

(Reporting by Caroline Copley and Daniel Wilchins; Editing by Tim Dobbyn)
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Comments (4)
Williamfree wrote:
The United States will eventually be the only nation with no stake in the United States.

May 25, 2010 11:14pm EDT  --  Report as abuse
Derik00 wrote:
For national security purposes, Transportatation, infrastructure, banking
must be owned by USA entities. I do not need to be paying interest to Qatar.

May 26, 2010 8:18am EDT  --  Report as abuse
klh wrote:
derik – banking is not owned by US entities today, and the Saudi prince is already a big citi shareholder. many people are paying interest to foreigners, but frankly, is paying interest to the likes of Ken Lewis, Thain and Dimon making you any better off? I think I would rather pay Qatar, they are much more neutral than these criminals.

May 26, 2010 8:42am EDT  --  Report as abuse
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