COMPANIES
FirstRand denies Citigroup rumour
Posted Mon, 18 Jul 2005
Banking group FirstRand on Friday denied rumours that it was in talks with US bank Citigroup over a possible takeover.
FirstRand shares gained 14 percent during the week on speculation that it was about to be bought by Citigroup, the world's largest banking group.
However, FirstRand said in a statement on Friday that it "is not engaged in talks" with Citigroup.
It did however say that from time to time, it has discussions with international banks.
"Discussions that warrant formal notification to shareholders will be dealt with appropriately," it said in the statement.
FirstRand shares fell 4.3 percent to 14.80 rand on Friday.
| 
