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Citigroup to seek sale of 50 branches in California: Bloomberg [April 22, 2014] (Reuters) — Citigroup Inc <C.N> is seeking buyers for about 50 branches holding $3 billion of deposits in California as the lender looks to trim its branch network, Bloomberg reported, citing three people involved in the process. |
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The branches, located in rural areas from
Sacramento to north of Los Angeles, could sell for more than
$100 million, Bloomberg reported. (http://link.reuters.com/mur68v) Citigroup, which failed to find a buyer for 16 Nevada branches
last year, wants to keep its offices in Los Angeles, San
Francisco and San Diego. The bank could not be immediately reached for comment. (Reporting by Neha Dimri in Bangalore) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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