Date:09/08/2008 URL: http://www.thehindu.com/2008/08/09/stories/2008080955431400.htm

Business

Citigroup to buyback securities worth $7.3 b

NEW YORK: Citigroup will buy back securities worth $7.3 billion from investors as part of its settlement with American regulatory authorities following allegations of fraudulent sale of illiquid bonds. It would also pay $100 million to the State of New York and other state agencies.