Prince Alwaleed to increase stake in Citi back to 5%: report

NEW YORK (MarketWatch) — Saudi Arabian investor Prince Alwaleed bin Talal bin Abdulaziz Al Saud said Thursday that he will increase his holdings in Citigroup Inc. back to 5%, adding that he supports the banking giant’s management, according to a report by Zawya Dow Jones. His holdings are currently less than 4%, according to an emailed statement quoted by Zawya Dow Jones. Citi has raised $50 billion in private capital, in addition to the $25 billion that the U.S. government has provided under the TARP program, the statement said. Shares of Citi were up about 4% in premarket trading.
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