China Development Bank

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China May Scuttle $2B Citigroup Bailout

Sources say China's government is standing in the way of the deal

(Newser) - On the eve of Citigroup’s fourth-quarter earnings announcement, the Chinese government appears to have raised objections to China Development Bank's purchase of a $2 billion stake in the struggling financial giant, reports the Wall Street Journal. The proposed deal, reported by the Journal over the weekend, is part of... More »

Saudi Prince, Chinese Bank to Back Citigroup

Foundering US giant will get billions from foreign investors

(Newser) - A Saudi prince and one of China's government banks are expected to invest billions in Citigroup, the Wall Street Journal reports today. The China Development Bank is expected to pump in $2 billion, sources said; the amount billionaire Prince Alwaleed bin Talal would front is yet to be determined, but... More »

2 Stories