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  • Citigroup Inc. (NYSE:C) Will Delay Further Sale of Toxic Assets

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    Sunday Jan. 30, 2011 at 02:44 pm EST
    Citigroup Inc. (NYSE:C) to Delay Further Sale of Toxic Assets
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    Citigroup Inc. (NYSE:C) will be delaying further sale of its toic assets to maximize unit sale value. Business sale, a part of Citi Holdings non-core assets, will be the latest unit to be sold after the financial crisis as a plan of getting rid of Citigroup Inc.'s non-core businesses (Citi Holdings) and concentrate more on Citi's core businesses. Citi Holdings had a total of $359 billion of assets on Dec. 31, last year. It was $600 billion in March 2009. Citi is under pressure to sell its non-core businesses to be financially stable but Citigroup don't want to sell assets at cheap. Citi shares have tumbled down from its 52-wk high level of $5.15 that it attained after the fed announced selling of all Citi Shares.

    Shares of Citigroup Inc. (NYSE:C) closed at $4.72 on Friday at support level of $4.74. Major resistance points above Friday's close are at $4.87 and $5.07 while major support levels for Citigroup Inc. below $4.72 are at $4.62, $4.39 and $4.24.

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