Citigroup - Sunday Update 2

Citi wins court order in battle for Wachovia: "Citigroup said in [a] statement that it is prepared to continue negotiating with Wachovia, but Wachovia may not speak to others. 'We are confident that we will complete our announced merger with Wachovia. Nothing in the court's temporary order impacts our ability to ultimately do that,' it said.

Some lawyers believe Citigroup could have a real case, noting the exclusivity agreement and the fact that Citigroup provided financial support to Wachovia last week. 'Those are clearly strong facts on Citi's side,' Morton Pierce, chairman of the mergers and acquisition group at law firm Dewey & LeBoeuf, said on Friday. Dewey & LeBoeuf is not representing any of the parties in the transaction."