NEW YORK (AP) — The fight over control of Wachovia intensified Saturday, as a judge temporarily agreed to block the sale of the bank by Wells Fargo, Citigroup sai in a news release. State Supreme Court Justice Charles Ramos issued the order blocking the sale of Wachovia Corp., which Wells Fargo & Co. had agreed to purchase in a $14.8 billion deal. Citigroup Inc. accused Wells Fargo of trying to cut off its earlier takeover offer of Wachovia’s banking operations for $2.1 billion in a deal struck with the help of the Federal Deposit Insurance Corp. —-Contact The Daily Reveille’s news staff at [email protected]
Wells Fargo blocked from buying Wachovia
By The Associated Press
October 4, 2008