Citi, Wells Fargo Extend Cease-Fire Over Wachovia

Citi, Wells Fargo Extend Cease-Fire Over Wachovia

Citigroup Inc and Wells Fargo & Co agreed to extend their legal standstill for two more days as they scrambled to come to a deal that could see them divvy up troubled regional lender Wachovia Corp.

Citigroup, Wells Fargo, and the Federal Reserve are negotiating over the future of Wachovia Corp, a bank hobbled by the credit crisis, but with a valuable network of branches.

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