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Abu Dhabi vows to fight for rights in Citi dispute - ASHARQ AL-AWSAT English Archive
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DUBAI, United Arab Emirates (AP) – The Abu Dhabi sovereign wealth fund is vowing to fight for its “legal rights” after filing a claim against Citigroup over its $7.5 billion investment in the bank.

A spokesman for the Abu Dhabi Investment Authority said Wednesday that it is ADIA’s policy to pursue its “legal rights fully.”

The fund declined to comment further, citing “binding confidentiality obligations.” It also declined to provide a copy of the complaint.

Citigroup said late Tuesday that ADIA was seeking to terminate a deal made in 2007 to buy $7.5 billion worth of the bank’s stock, or receive damages of more than $4 billion.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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