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Wednesday, July 9, 2014

Market Chatter- Corporate finance press digest, (NYSE: C)

The following corporate finance-related stories were reported by media on Wednesday: * The Justice Department and Citigroup Inc are close to a deal for the bank to pay about $7 billion to settle allegations it sold shoddy mortgages in the run-up to the financial crisis, people familiar with the matter told The Wall Street Journal. (* Three main suitors are in the running to purchase the Balkans network of nationalised Austrian bank Hypo Alpe Adria , a deal that could be signed before the end of July, several sources close to the sale told Reuters.

Citigroup Inc. (Citigroup) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. Shares of C fell by 1.17% or $-0.56/share to $47.42. In the past year, the shares have traded as low as $45.18 and as high as $55.28. On average, 17717900 shares of C exchange hands on a given day and today's volume is recorded at 13808777.