Less than a month after walking away from Wachovia Corp, Citigroup Inc is in discussions to acquire another US bank, Reuters reports.
The target’s identity could not be determined, the paper said, but added that it was a regional bank that overlaps geographically with Citigroup’s retail-banking unit, which has its highest concentration of branches in the Northeast, California and Texas.
A deal could be reached later this month. The fallout from Wells Fargo & Co’s successful deal to acquire Wachovia has added to tensions between Citigroup executives and directors, the paper said, citing people familiar with the matter.
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