Citi doesn't need more taxpayer money but it will raise private investor funding

According to the Bloomberg Monday report, Citigroup, one of 19 U.S. banks undergoing a stress test designed to ensure the banks have sufficient capital to go through the recession, is seeking to raise any additional capital it might need from private investors, rather than giving more control to the government. These measures are expected to be sufficient to meet any capital the Citigroup is to raise under the government pressure. 

Citigroup, that previously obtained $45 billion in U.S. government money, will not need additional injection of taxpayer funds, as for the regulators’ statement. Citigroup is discussing with the government how much of the government's preferred stock investment must be converted into common shares. 

Private investment will possibly help Citigroup prevent the government from converting all or part of its $27 billion investment, that could give the government more than 50% ownership of the bank, according to Bloomberg.