In Brief: Citigroup Plans $2 Billion Stock Repurchase

share buyback program and that the repurchases will be used primarily to fund employee benefit plans. The company joins a growing list of banking companies initiating buybacks following the recent decline in the stock market. Citigroup was formed last month by the merger of Citicorp and Travelers Group Inc. Travelers Group had repurchased approximately $2 billion of its common stock in 1998.

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