TOKYO, Feb 25 (Reuters) - Citigroup Inc (C.N) may consider selling its Japanese investment banking unit, Nikko Citigroup, in addition to the brokerage operations that have already been put up for sale, the Mainichi newspaper reported.
Earlier this month Citigroup formally began the process of selling the brokerage unit, Nikko Cordial Securities, as part of its efforts to shed non-core assets globally in the wake of massive losses.
Citigroup, which originally did not plan to part with Nikko Citigroup, may now may sell it and Nikko Cordial as a set, the Mainichi reported on its website without citing sources.
No one at Citigroup was immediately available for comment.
Japan's top three banks, Mitsubishi UFJ Financial Group (8306.T), Mizuho Financial Group (8411.T) and Sumitomo Mitsui Financial Group (8316.T) have all shown interest in buying Nikko Cordial, sources have told Reuters. (Reporting by Nathan Layne and Taiga Uranaka; Editing by Chris Gallagher)
Feb 25, 2009
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