US sells its stock of Citigroup for profit (voice of America)

VOA News 07 December 2010 Citigroup corporate logo is displayed in New York
The u.s. Government has sold its remaining shares in Bank of third largest in the country and made profits on the market.
The Government has delivered Citigroup bailout $ 45 billion in 2008 to keep to the worst part of the global recession. Government once belonging to 27 percent of the Bank, but late Monday sold the last 2.4 billion share it held $ 10.5 billion.
Throughout, including the previous sales of stock of Citigroup, the Government made a profit of 12 billion over the rescue plan. This is a result at odds with the fears of some analysts at the time of the bailout that Government could lose money by supporting Citigroup.
The Government seeks to end its participation from private to us as the nation's economy still slow improves at a slow pace. Last month, the Government sold a large part of its participation in General Motors, second largest manufacturer in the world. The Government reduced participation of GM to 33 percent, down from 61 percent.
The Government sold its stock of Citigroup to $4.35 per share, compared to $ 4.45 Monday closing price. The Government stated that it has decided to sell its shares "block substantial benefits for Canadians."
Even with the sale of shares, the Government has consistently holds the right to purchase another 465 million shares of Citigroup. The Government intends to sell these rights as well, but the value of this transaction is uncertain. In addition, the Government has yet also 3 billion in preferred shares of Citigroup.
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