News Snapshot:
Citigroup Inc, which has been shedding some of its retail operations as part of a global revamp, is in advanced talks with Fubon Financial Holding Co (富邦金控) for a sale of its China consumer business, people familiar with the matter said. Taipei-based Fubon has emerged as the likeliest buyer after outbidding rivals, and the two lenders are negotiating the terms of a potential transaction, the people said, asking not to be identified as the information is private. They are aiming to sign an agreement in the next few weeks and the assets could be valued at about US$1.5 billion, the...
