The Treasury Department says it will sell 1.5 billion shares of Citigroup stock over the next two months, the latest effort to recoup money from the government's $700 billion financial bailout.
Treasury says the third phase of Citigroup stock sales will begin immediately and end by Sept. 30. The government has already sold 2.6 billion shares for $10.5 billion.
Citigroup received $45 billion in taxpayer support in one of the largest bank rescues by the government. Of the $45 billion, $25 billion was converted to a government-ownership stake. The government is now selling that off. The bank repaid the other $20 billion last December.