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Citi Reverse Stock Split Could Keep It In Dow
Topics:Dow Jones Industrial Average | Banking
Sectors:Financial Services | Banks
Companies:Citigroup Inc
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The chairman of the Dow Jones Index oversight committee said on Tuesday a reverse stock
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Mark Lennihan / AP |
] shares may decrease calls for dropping it from the blue-chip Dow Jones industrials index. "A reverse split in Citigroup shares may reduce some of the calls for eliminating it (from the index)," said John Prestbo, who is also the executive director of the Dow Jones Indexes, on the sidelines of an event in New York.
Prestbo said splits are not a consideration in determining whether a company is a suitable representative of its industry in the Dow, but given the recent decline in the price of Citi shares he has received calls and e-mails asking for changes in the index, including removing Citigroup.
Copyright 2009 Reuters. Click for restrictions.
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