Shares in Turkey's Akbank fell nearly five percent on Monday after Citigroup said it plans to reduce its stake to below 10 percent from 20 percent, with uncertainty over the sale method and purchaser weighing on the stock.Analysts said they saw Citigroup's move as a way to shore up its capital base after it topped a list of U.S. financial institutions that failed the Federal Reserve's latest round of stress testing.Citi said last week the current carrying value of its investment in Akbank is $3.4 billion.Akbank said Citi must make its offer to its parent Sabanci Holding under the terms of its shareholders' agreement.
Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI remained unchanged at $16.64. In the past year, the shares have traded as low as $12.18 and as high as $18.03. On average, 23895 shares of FISI exchange hands on a given day and today's volume is recorded at 0.
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