Citigroup Gets Approval to Sell Russia-Based Banking Unit
Key Takeaways Citigroup secured the Kremlin's approval to sell AO Citibank to Renaissance Capital.The sale covers Citigroup's remaining Russian consumer and institutional operations.C says the approval lets it move quickly to finish preparations and seek final clearances.Russian President Vladimir Putin has authorized Citigroup Inc. (C) to sell its Russian banking unit, marking a significant step in the bank’s long-planned withdrawal from the country. The decision reflects Citigroup’s ongoing strategy to st ...