Citigroup has already taken $45 billion of taxpayer funds through three government rescues, and is trying to avoid a fourth.
The pending conversion of as much as $25 billion of government-held preferred shares into common stock would give the U.S. a 36 percent stake in Citigroup, while existing shareholders would be diluted by 74 percent. The stock, which has tumbled 95 percent since the end of 2006, fell 8 cents to $2.97 in composite trading on the New York Stock Exchange at 4:09 p.m.
74% diluted!!!!SELL !!!!!!!!!!!!!!! that would make this a 78 cent stock on todays closing.