Citi's Latest China Move
This video is part of our "Motley Fool Conversations" series, in which senior analyst Anand Chokkavelu, CFA, discusses topics around the investing world.
Citigroup announced that it has sold its stake in Shanghai Pudong Development Bank. Its 2.71% stake in the Chinese bank brought it $668 million. It's a small deal for Citi, but it's another step in its overall plan -- a plan that includes slimming down and expanding its presence in China. Anand explains what investors should take away from the move.
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At the time this article was published Anand Chokkavelu and The Motley Fool own shares of Bank of America and Citigroup. Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.