Citi's Sale Of Unwanted Assets Flailing, Difficulty Raising Cash

03/20/2009 05:12 am ET | Updated May 25, 2011
  • MARK DeCAMBRE New York Post

Citigroup's quest to raise cash by selling the assets it doesn't want is falling flat, as would-be suitors have more interest in the parts of the business that Citi would like to keep.

One investor on the prowl is Texas billionaire Gerald J. Ford, who sources said is interested in buying back bank assets and branches that make up the former Golden State Bancorp, a Glendale, Calif.-based savings and loan that Citi bought from Ford seven years ago for nearly $6 billion.

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