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Saudi Investor Alwaleed: Citigroup Is On Right Path

Monday, 11 Jan 2010 08:27 AM

Saudi billionaire Prince Alwaleed bin Talal, head of Kingdom Holding and shareholder in Citigroup, said the U.S. bank had put the worst behind it and was now on the right path.

Alwaleed said the recent capital decrease at Kingdom, in which he holds a 95 percent stake, would cancel all accumulated losses at the diversified investment firm, and that results for the last quarter and full-year 2009 would be positive.

Alwaleed, one of the world's wealthiest individuals, said he expected positive results from Citigroup in 2011.

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Saudi billionaire Prince Alwaleed bin Talal, head of Kingdom Holding and shareholder in Citigroup, said the U.S. bank had put the worst behind it and was now on the right path. Alwaleed said the recent capital decrease at Kingdom, in which he holds a 95 percent stake,...
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2010-27-11
 

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