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Citigroup (C) could take a charge of $3.2B-$6B on a writedown of its Smith Barney joint venture...

Citigroup (C) could take a charge of $3.2B-$6B on a writedown of its Smith Barney joint venture with Morgan Stanley (MS), analysts reckon. The lower estimate comes from Portales Partners and the higher one from Barclays. Citigroup and Morgan Stanley have hired Perella Weinberg to decide the value of a 14% stake in the JV that Citigroup is selling to Morgan Stanley.
Comments (1)
  • I find it amusing that the two partners in a "joint venture" need a third party to tell them what they have and what it's worth. No wonder they're losers!
    7 Aug 2012, 10:58 AM Reply Like
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