News Journal

U.S. banks shares fall by 27% on weekend

The companies Citigroup Inc. and the Wells Fargo & Co are talking to the sixth largest bank by assets of America, Wachovia for selling itself. The banks shares in America fell by 27% on the weekend and it is said that the two companies Citigroup and Wells Fargo are getting into a bidding war over a takeover.

The U.S. government is also talking to the Wachovia but the federal officials and the treasury department officials declined to report about the discussions.