Al-Ansari Clarifies Citigroup Statements
Sameer Al-Ansari’s comments earlier this week concerning Citigroup’s financial condition sparked a near panic, but Al-Ansari is backing away from his comments:
Citigroup Inc has not made any approach to Dubai International Capital (DIC) seeking funds, the investment agency owned by the ruler of the Gulf Arab emirate said in a statement on Thursday.
It also said it had never expressed an opinion on the investment merits or financial condition of Citigroup.
“We have not been privy to any non-public information about the company, neither has Citi approached Dubai International Capital for a capital raise,” DIC said.
Al-Ansari said on Tuesday it would take “a lot more money” to rescue New York-based Citigroup, which since November has raised about $30 billion of capital from Abu Dhabi, Kuwait and Saudi Arabia’s Prince Alwaleed Reuters
Everyone has an opinion about this market, but some people’s opinions account more than others.
Al-Ansari’s comments led to Vikram Pandit’s issuing a rebuttal of sorts, but the last thing this market needs is a loose cannon firing away in Dubai.
Something tells me personal rivalries between sovereign wealth members have more to do with this than Al-Ansari’s balance sheet analysis. While Vikram Pandit might need capital, he continues to look to asset sales as opposed to selling additional equity.
Citigroup made no approach for capital: Dubai
Reuters
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