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Citigroup reports 3.1 GM stake, down from 5.5 pct

Fri Oct 10, 2008 5:25pm EDT

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DETROIT, Oct 10 (Reuters) - Citigroup (C.N) disclosed on Friday that it now holds a 3.1 percent stake in General Motors Corp GM.N, a decline from a prior stake of 5.5 percent.

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GM shares have plunged to a nearly 60-year low amid the decline in U.S. auto sales and the credit crisis.

Citigroup disclosed a 17.9 million share stake on Friday in a filing with the U.S. Securities and Exchange Commission, compared with a stake of nearly 32.2 million shares previously. (Reporting by Karey Wutkowski and David Bailey)

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