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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Abu Dhabi says it was duped by Citigroup over investment deal

Posted on 17 December 2009

From Independent: Abu Dhabi is trying to rip up its disastrous $7.5bn (£4.6bn) agreement to invest in Citigroup, saying the banking giant misled the country’s sovereign wealth fund about the state of its finances when the deal was signed in 2007.

The dispute came to light as Citigroup was attempting to stoke investor demand for a massive share issue yesterday and contributed to underwhelming investor demand………………………………..Full Article: Source

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