October 3, 2007
Citigroup Will Buy The Rest of Nikko Cordial
After announcing big losses yesterday because of the US credit markets, Citigroup announced plans to buy the remaining one-third of the Japanese brokerage firm Nikko Cordial Corp. that it doesn't already own for $4.6 billion. Its strategy is to increase profits outside the US to 60%, up from its current just-below 50%. WSJ, How Nikko Cordial Can Help Citigroup.
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