BOSTON - FleetBoston Financial Corp.'s chairman and chief executive told investors at its annual meeting Tuesday that he does not know the source of rumors that Citigroup Inc. wants to acquire it.
"I haven't a clue how those rumors got started. They seem to be perpetual," Charles K. Gifford said during Fleet's meeting, which was broadcast over the Internet.
While he said his company has a no-comment policy when it comes to rumors about acquisitions and mergers, he indicated that for now it is committed to going it alone.
"I think the strategy that this company has implemented, supported by its board, is a winning strategy that is going to create value for shareholders," he said in response to an investor's question about the rumors.
