Activist investor ValueAct Capital Partners LP has built a roughly $1.2 billion stake in Citigroup Inc., a bet that the giant bank’s strength as a service provider to corporations will enable it to thrive in the post-crisis era and make up ground its shares have lost in recent years. ValueAct, which has built the position over the past four to five months, continues to boost it “opportunistically,” according to a letter to its own investors reviewed by The Wall Street Journal. The stake amounts to about 0.7% of Citigroup,...

Source: Wall Street Journal May 07, 2018 20:31 UTC