Citi, Wells, may split Wachovia; CitiCenter in South Philly?
Citigroup and Wells Fargo, fighting in court over the fate of Wachovia Corp., may end up splitting the bank, with Citi getting branches in the Philadelphia area and other markets it covets. That could mean the Sixers and Flyers will play in the Citi Center once Wachovia goes away.
UPDATE: Citi and Wells are negotiating to split Wachovia, with NY Fed head (and possible Obama Treasury Secretary) Tim Geithner playing King Solomon, says the Financial Times. Story here.
EARLIER: Citigroup and Wells Fargo, fighting in court over the fate of Wachovia Corp., may end up splitting the bank, with Citi getting branches in the Philadelphia area and other markets it covets, the Wall Street Journal says, citing unnamed people. WSJ story here. Bloomberg update here.