Citigroup buying online bank for $1.13 billion
From the Associated Press
Citigroup Inc. said it had agreed to buy British insurer Prudential’s Egg Banking, an Internet bank, for 575 million pounds ($1.13 billion) in cash.
The combination of Egg and Citigroup’s British consumer operations will create a financial services provider with 4 million customers, more than quadrupling Citigroup’s 800,000 British credit card base.
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