U.S. Government Preparing to Sell Shares in Citigroup

The United States government is said to be preparing to unload about 7.7 billion shares it owns in Citigroup, a figure that represents about 27% of the bailed-out bank.

According to reports the U.S. Treasury would be selling the shares throughout 2010 and many are saying the decision to sell was an indicator that Wall Street’s recovery was continuing to move forward.

Citigroup has rescued from collapse by the government three times since 2008 as part of the financial bail-out package that has saved a number of financial institutions.

While the U.S. Treasury said it was planning to sell shares in Citigroup the decision as to when will depend on market conditions.

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