Citigroup Inc. on Tuesday confirmed its strategy of selling noncore assets but would not comment specifically on whether it is putting the online bank Egg Banking PLC up for sale.

The U.S. group was responding to an earlier Sky News report that the investment bank is likely to launch a formal sale process in September and is looking to get as much as 500 million pounds ($791.4 million).

"We do not comment on speculation or rumor, but it is already public knowledge that Egg is part of Citi Holdings," a Citi spokesman said.

Citigroup bought Egg for $1.13 billion from the U.K. insurer Prudential PLC in 2007.

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