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Wanted: More money
That's what Citigroup and Merrill Lynch are looking for, and they're looking far and wide to get it.
The Wall Street Journal reports this morning the two firms are in talks to get additional capital from overseas. Citi could get an infusion of up to $10 billion from mostly foreign governments. It's already taken more than $7 billion from the Abu Dhabi Investment Authority. Merrill Lynch is looking for about $4 billion from a Middle Eastern government fund. At the end of the year Merrill already got a $4 billion dollar injection from Singapore. No comment from either company.
Posted on January 10, 2008 6:04 AM PT | Permalink
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