Citigroup Inc. has been seeking buyers for consumer finance company CitiFinancial, the Financial Times reported Friday on its website, citing unnamed people close to the situation.

The deal could raise hundreds of millions of dollars, the report said.

The people said Citi has been contacting potential buyers for CitiFinancial, according to the report.

Citi declined to comment, the report said, adding that people with knowledge of the process said talks with likely bidders were at an early stage.

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