Sumitomo Mitsui to buy brokerage from Citigroup

Courtesy Newsvine - business  Fri, 05/01/2009 - 02:32

Sumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said Friday, as part of a bigger plan to restructure the struggling U.S. bank.

The deal is Japan's first acquisition of a leading brokerage by a bank.


 

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