No one hankers for Citi’s bad assets

According to the latest reports by Reuters potential buyers of the assets of Citigroup are not interested in what the company is offering at the moment. Instead ‘would-be suitors have more interest in the parts of the business that Citi would like to keep’.

Among those investors who would like to bite a piece of Citi is Texas billionaire Gerald J. Ford. He wants to purchase bank assets and branches that make up the former Golden State Bancorp which he sold to Citi 7 years ago for $6 billion.

Other potential buyers are also interested in acquiring Mexican bank Banamex, which Citi bought for $12.5 billion 8 years ago. But the spokeswoman for Citigroup stated that the company has no plans to sell as long as this unit is seen as a key component of Citicorp.

Investors show no interest in the assets that make up Citi's so-called bad bank, businesses seen as non-core. Such units as CitiFinancial, CitiMortgage and Primerica, which has been for sale for more than a year, are considered to be high risk sectors.