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  • Citigroup Inc. (NYSE:C) Looking for Opportunities for Acquisitions

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    Friday September 17, 2010 at 09:41 am EST
     
    Citigroup Inc. (NYSE:C) Opportunistic when it comes to Acquisitions
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    Citigroup Inc. (NYSE:C)  is willing to make acquisitions in Asia as opportunities arrive as the company is achieving solid growth in the region and as most of the growth is likely to be organic, Stephen Bird, Asia-Pacific co-chief executive, said on Thursday. While speaking at a news briefing in Taipei, he also said that Citigroup is still continuing talks to buy a stake in a Chinese brokerage firm.

    Citigroup Inc. (NYSE:C) also announced in a press release on Friday that it has been granted approval by the China Banking Regulatory Commission ("CBRC") to open a branch in the city of Nanjing. The Nanjing branch will be Citi's eleventh branch in China, and will officially open end of 2010. Citi is achieving rapid growth in China after acheiving success in India. Citigroup stock closed at $3.97 on Friday near resistance level of $4.0. The support levels below are at $3.88, $3.74 and $3.40. Resistance levels for Citigroup inc. - $4.11, $4.25, $4.98.
     

    Other Major Press releases this month include 1) Citigroup Inc (NYSE:C) announces Oct 18 as the date for its 3rd quarter earnings preview
    2) Citibank  reduced the minimum deposit required to waive the fees for its Gold checking account


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