Citi withdraws, leaving Wells Fargo to buy Wachovia

Wells Fargo of San Francisco looks set to become the biggest bank in Philadelphia and dozens of other markets, after Citigroup withdraws from talks. But Citi says it will sue, and says it's stil willig to buy part of Wachovia..

by Joseph N. DiStefano

Published Oct. 9, 2008, 6:40 p.m. ET

Wells Fargo & Co. looks set to buy Wachovia Corp. as Citigroup pulls out of talks. That would make Wells Fargo the biggest bank in Philadelphia and dozens of other cities, and give Wells naming rights to the Wachovia Center where the Sixers and Flyers play. But Citi says it's still willing to buy part of Wachovia, and it threatens to sue.
UPDATE: Citigroup statement here Inquirer story here