CitiBank Bailout is $14 B From China, Kuwait

By Henny Sender in New York
Financial Times (UK)
January 11 2008

Citigroup is putting the final touches to its second big capital-raising effort in as many months, seeking up to $14bn from Chinese, Kuwaiti and public market investors.Under the proposal being discussed, he bulk of the money – roughly $9bn – would be most likely to come from China, people familiar with the negotiations say. The Kuwait Investment Authority would contribute about $1bn, while $2bn to $4bn would be raised through a public placement of shares.

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