Saudi Prince, China Bank To Invest In Citigroup
( FOX News )- Citigroup Inc. is expected to get an investment from Saudi Prince Alwaleed bin Talal and other investors including China Development Bank, The Wall Street Journal reported on its Web site late Friday, citing people familiar with the matter. The newspaper said the Chinese bank is expected to invest about $2 billion but was uncertain on how much bin Talal will invest. The Journal said bin Talal's investment is not expected to increase the prince's current stake above 5%. The Journal said Citigroup hopes to raise about $8 billion to $10 billion from a number of investors.