The Treasury Department announced plans Monday to sell its 27% stake in Citigroup (C: 4.31, 0, 0%) “over the course of 2010” in a deal that will likely amount to a windfall for taxpayers.
The announcement confirms recent reports of the government’s plans to sell its 7.7 billion shares of common stock in Citi, which was rescued by the U.S. during the financial crisis.
Full story: U.S. Treasury to Sell Citi Common Shares in 2010 – FOXBusiness.com