“The earlier the U.S. government exits its investments in those companies, the better,” as long as the withdrawal is not done in a way that hurts the prices of U.S. banking stocks, the Saudi billionaire was quoted as saying in an interview published on Sunday.
“We need to give confidence back to the shareholders and investors that these companies are moving along without government support.”
A series of bailouts during the financial crisis has left the U.S. government with a 34 percent stake in Citigroup, after the bank obtained $45 billion from the government’s Troubled Asset Relief Program.
Sources told Reuters last month that Citigroup was talking to U.S. officials about how the government should shed its 7.7 billion shares in the bank.
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