Fed says will consider Wells, Wachovia deal

WASHINGTON (Reuters) - The Federal Reserve said on Thursday that it will now consider the bid by Wells Fargo & Co to acquire Wachovia Corp. since Citigroup has said that it will not try to stop the transaction.

Earlier in the day, Citigroup ended efforts to stop Wachovia from merging with Wells Fargo.

"The Federal Reserve will immediately begin consideration of the filings submitted by Wells Fargo for approval to acquire Wachovia Corporation," the central bank said in a statement.

(Reporting by Patrick Rucker;)