Gulf investors may not save Citigroup, Dubai executive says

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Gulf investors may not save Citigroup, Dubai executive says
Mideast sovereign wealth funds may fail to save troubled U.S. banking giant Citigroup Inc. (C: Citigroup, Inc News, chart, profile, more Last: 21.87-1.22-5.28% 1:04pm 03/04/2008 Delayed quote data Add to portfolio Analyst Create alert Insider Discuss Financials Sponsored by: C 21.87, -1.22, -5.3%) unless more cash is pumped into the lender, the head of a $13 billion Dubai-owned investment firm said Tuesday. Sameer Al Ansari, Chief Executive of Dubai International Capital told delegates at a private equity conference that it will take more than the combined efforts of the Abu Dhabi Investment Authority, the Kuwait Investment Authority and Saudi investor Prince Alwaleed bin Talal to save the bank. "It's going to take more than that to rescue Citi," Ansari said. He added that more write downs are expected and that Gulf investors would be required to bolster Citi.
Posted Mar 04, 2008
Responses to this thread:
notgneiss: I might have enough frequent flier miles saved up to buy the whole bank myself...
Posted Mar 04, 2008

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