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Citigroup Inc. Message Board

  • optimismiscontagious optimismiscontagious Dec 7, 2010 10:01 PM Flag

    Buyback announce tomorrow

    Mr. Pandit is expected to make an announcement tomorrow, and a buyback is the most likely statement.

    From CNBC - "it is our understanding that C would be free of TARP restrictions following the successful completion of the secondary. This would allow C to apply to the Fed to pursue establishing a dividend and/or buying back shares."

    Certainly we would expect that Citi would've arranged verification of pre-approval before the Dec. 17 deadline, and this appears to be the case. Pandit is a genius!

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