Citigroup sold out of Samba, which it had managed under contract since 1980, just as the Saudi economy began to boom and the banks to score huge profits. Citigroup recorded a $760 million gain on the sale of its holding but shareholders missed out on the Saudi growth story. Prince can’t bear to miss out for much longer. He says: “Our confidence in the Saudi economy is strong and we look forward to re-establishing Citigroup’s presence in the kingdom.
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