TOKYO: US financial conglomerate Citigroup Inc will sell 180 million shares in Japan's third biggest brokerage, Nikko Cordial Corp, in the market and hence cut its stake from 21% to about 12%, Nikko said yesterday.
Nikko would buy back 90 million of its own shares to mitigate the effects on its share price from the increase in available shares, it added. – Reuters
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