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Citi Advising Barclays

Stock quotes in this article: ABN , BCS , C  

Barclays(BCS Quote) has hired Citigroup(C Quote) to advise on merger talks with ABN Amro(ABN Quote).

Citi is likely to earn a generous fee. But more important, the hiring seems to take the bank out of the running for ABN. Reports had surfaced that several Citi executives were trying to convince CEO Chuck Prince to bid for ABN Amro.

A Citi spokeswoman confirmed that the bank has been hired by Barclays, but declined to discuss the deal further. Barclays declined to comment. ...

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