Citi's stake in HDFC

By CROW -
Deepak Parekh, Chairman, HDFC, said there is no change in Citi's holding in HDFC. He spoke to CEO Vikram Pandit recently and learnt that Citi is not selling HDFC shares.

 

 However, five to six investors have approached him, wanting to buy Citi's stake in HDFC, Parekh added.

 

Yesterday, the US government moved to guarantee USD 300 billion in troubled Citi's assets and announced that it will inject an additional USD 20 billion. Global markets rallied after the US government announced the bailout package.

 

Citigroup has a 11.74% stake in HDFC, making it the single largest shareholder in the housing finance company.

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