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Report: Citigroup in talks with Citadel for sale of Automated Trading Desk

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Report: Citigroup in talks with Citadel for sale of Automated Trading Desk

Citigroup Inc.is in negotiations with Citadel SecuritiesLLC for the possible sale of Automated Trading Desk, the bank's market-makingsubsidiary, Bloomberg News reported May 10, citing "people familiar with thematter."

Automated Trading Desk was acquired by Citigroup in 2007 for about $680 million.

The unnamed sources did not disclose a price for the deal, whichmay not be completed as the talks have not been finalized, according to the report.