Citigroup off after announcing Smith Barney sale

NEW YORK (Reuters) - Citigroup (C.N) slipped 1.4 percent to $5.82 after the bell on Tuesday following the bank's announcement that it would exchange its Smith Barney unit for a stake in a joint venture with Morgan Stanley (MS.N).

The battered U.S. bank would also get an upfront cash payment of $2.7 billion. Morgan Stanley shares edged down 0.3 percent to $18.81.

(Reporting by Deepa Seetharaman)