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Sat 11 Nov 2008Beleaguered Citigroup tries to avert crisis of confidence
CITIGROUP'S BOARD was locked in talks yesterday in an attempt to resolve a crisis of confidence in the troubled financial services group that has sustained a loss of more than half its market value over the past three days.
As Citi shares plunged by as much as 20 per cent in early trading, sources said the board would discuss options, including the position of chief executive Vikram Pandit and the sale of some of its businesses or even the entire company.
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