Citigroup hands Britain £1.2bn vote of confidence - News Summed Up

Citigroup hands Britain £1.2bn vote of confidence


Citigroup, the American bank, is in negotiations to buy its European headquarters in one of Britain’s largest commercial property transactions despite Brexit looming ALAMYCitigroup is close to agreeing a £1.2 billion deal to buy the skyscraper in Canary Wharf that houses its European headquarters. In what would be a striking financial commitment to Britain only weeks before Brexit, and one of the largest UK commercial property transactions on record, Citi is in advanced talks to buy the 42-storey Citi Tower, or 25 Canada Square, according to EG, a property trade publication. Banks are considering moving staff and assets out of the country amid concerns about Brexit, but the potential investment by one of the world’s largest banks underlines that they expect London to remain a global financial centre. Citigroup is the fourth largest American bank and it employs about 9,000 people in the UK. These include 6,000 at…


Source: The Times February 18, 2019 00:09 UTC



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