Citi, Wells Fargo Extend Wachovia Truce

Updated from Wednesday, Oct. 8

Citigroup(C Quote), Wells Fargo (WFC Quote) and Wachovia (WB Quote) have agreed to extend the deadline freezing any litigation until Friday, as the companies continue to discuss an agreement regarding the fate of the Charlotte, N.C., bank.

The companies, after consultation with the Federal Reserve, said in a joint statement Wednesday that the extension for the litigation standstill will now expire at 8 a.m. on Friday, Oct. 10. The "standstill agreement" was set to expire at noon Wednesday.

The Wall Street Journal reported Thursday that talks between Citigroup, Wells Fargo and the U.S. government over a way to divide Wachovia were hung up on several key issues. ...