Sunday, April 8, 2007

Citigroup to buy Taiwan's BOOC for $426 mln

(Reuters) - Citigroup's U.S.-based Chief Executive Charles Prince said last month he wanted to increase earnings from foreign markets to up to 65 percent of its total from a current 45 percent.

"The most important global strategy for Citi is to expand our international presence and profitability. It is the same strategy we are using in Taiwan," the group's Taiwan country officer Morris Li told a news conference on Monday to announce the deal.


Read more at Reuters.com Mergers News

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