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The following content is from an older version of this website, and may not display correctly.Wachovia, the fourth largest bank in the US, is the latest to be sold, subject to shareholder approval.
The bank is being snapped up by CitiGroup for $2.1 billion and the price includes a 220,000 square feet, $400 million data center which opened in Birmingham, Alabama in 2006 and two others in Winston, North Carolina.
Wachovia operates fee free ATMs across the US and overseas and Citigroup is also getting an extensive retail branch network for its money.
CitiGroup is reportedly taking $42 billion in losses from Wachovia's $312 billion current outstanding loans.
The bank is being snapped up by CitiGroup for $2.1 billion and the price includes a 220,000 square feet, $400 million data center which opened in Birmingham, Alabama in 2006 and two others in Winston, North Carolina.
Wachovia operates fee free ATMs across the US and overseas and Citigroup is also getting an extensive retail branch network for its money.
CitiGroup is reportedly taking $42 billion in losses from Wachovia's $312 billion current outstanding loans.