Jan. 11, 2008
Prince Alwaleed bin Talal is expected to be joined by other investors, including the China Development Bank, to invest in Citigroup, people familiar with the matter said. While it isn't clear how much Prince Alwaleed will invest, the Chinese entity is expected to invest roughly $2 billion, one person said. Prince Alwaleed's total stake in Citigroup is likely to remain below 5% in order to avoid regulatory scrutiny. The move would be at least the third major investment by a Chinese institution in a struggling Wall Street firm.
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