Citigroup cuts stake in HDFC to 9.9 pc

New York/Mumbai, June 14 (PTI) Citigroup today said it has reduced its stake in mortgage lender HDFC to 9.9 per cent from 11.4 per cent, a deal the US bank said would give it a pre-tax profit of about USD 160 million.Citigroup sold 1.5 per cent holding in Housing Development Finance Corp (HDFC)."Reducing its holdings in HDFC to below 10 per cent is part of Citi''s mitigation efforts ahead of the ...

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Source: PTI via Yahoo! India News

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