Putin greenlights Citi’s Russia exit as part of bank's worldwide reorganization

Russian President Vladimir Putin signed an order early Wednesday permitting Citigroup (C) to sell its Russia-based division to emerging markets investment bank Renaissance Capital. "With this receipt of the final required Russian approval by Renaissance Capital, Citi is now moving expeditiously to complete the final steps of its preparation to transition the operations to the buyer and obtain the remaining necessary approvals," a Citigroup spokesperson said in emailed comments. Earlier Wednesday, Citigro ...