October 3, 2008 7:11 AM

Citigroup demands that Wachovia, Wells Fargo call off deal

A legal fight is brewing over the surprise $15 billion merger announced Friday morning between Wachovia and Wells Fargo that upsets an FDIC-brokered Citigroup-Wachovia transaction announced on Monday. Citigroup issued a statement demanding that Wachovia and Wells Fargo terminate the deal, which it said was a clear breach of an exclusivity agreement between Citi and Wachovia.

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