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Citigroup to sell stake in Japan broker Monex-media

Thu Mar 5, 2009 6:31pm EST

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TOKYO, March 6 (Reuters) - Citigroup (C.N) plans to sell its 26 percent stake in Japanese online broker Monex Group Inc (8698.T) as part of the struggling U.S. bank's global efforts to raise cash, the Yomiuri newspaper reported on Friday. Citigroup's stake in Monex was worth about 15.3 billion yen ($156 million) as of Thursday's close. Citigroup appears to have already sounded out several financial institutions on the sale of its stake in Monex, the Yomiuri reported.

Stocks  |  Mergers & Acquisitions  |  Japan

Citigroup is also trying to sell its Japanese retail brokerage unit, Nikko Cordial. [ID:nT127749]

Japan's top three banks, Mitsubishi UFJ Financial Group (8306.T), Mizuho Financial Group (8411.T) and Sumitomo Mitsui Financial Group (8316.T) have all shown interest in buying Nikko Cordial, sources have told Reuters. (Reporting by Nathan Layne)

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