Qatar wealth fund keen to buy U.S.’s Citi shares: report

LONDON (BestGrowthStock) – Qatar Investment Authority, the country’s sovereign wealth fund, is keen to buy part of the U.S. Treasury’s stake in Citigroup Inc (C.N: ), the Financial Times reported in its Wednesday edition.

Citing people familiar with the matter the paper said QIA was considering purchasing some of the U.S. Treasury’s 27 percent stake in Citigroup, but warned any deal would be dependent on price and market conditions.

The U.S. treasury said in April it was launching its plan to sell of its 7.7 billion share stake in Citigroup. Morgan Stanley is advising the U.S. government on the sale of up to 1.5 billion common shares.

The FT said the sale of the first tranche of the stake should be finalized in the coming days, according to a person familiar with the matter.

Citigroup declined to comment. QIA could not immediately be reached for comment.

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(Reporting by Caroline Copley and Daniel Wilchins; Editing by Tim Dobbyn)

Qatar wealth fund keen to buy U.S.’s Citi shares: report