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Monday, May 12, 2008

Turkey's Akbank says doesn't expect Citi stake sale

"Turkey's Akbank says doesn't expect Citi stake sale

By Asli Kandemir
ISTANBUL, May 12 (Reuters) - Turkish Akbank does not expect Citigroup to sell its stake in it because the U.S. bank has said strategic investments will be in emerging markets, Akbank's CEO said late on Friday.
Citigroup CEO Vikram Pandit said on Friday the bank planned to shed $400 billion of assets within three years, comments which helped send Akbank stock 2.3 percent lower."

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