 |
Musk: Time to tackle dealer dispute
Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to consumers. Video
Sponsored Links
Citigroup to sell Belgian retail business to CMNE
BRUSSELS |
BRUSSELS (Reuters) - Citigroup (C.N) has agreed to sell its retail business in Belgium to Credit Mutuel Nord Europe (CMNE), the French firm said in a statement on Wednesday.
A spokesman for CMNE declined to detail the value of the transaction but said it would include Citigroup's credit card and consumer loan businesses in the country.
"This fits perfectly in the CMNE group's strategy. It is clearly based on our pursuit of expansion, notably in northern France and in Belgium, which we consider as our second domestic market," Eric Charpentier, director general of Crédit Mutuel Nord Europe said in the statement.
Citigroup opened operations in Belgium in 1919 and has more than 560,000 clients.
The merged company will be established after the closure of the transaction, expected in the second quarter of 2012.
(Reporting by Justyna Pawlak and Barbara Lewis; Editing by Jon Loades-Carter)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters