Citi said Friday that it is selling its Japanese domestic securities business, conducted principally through Nikko Cordial Securities Inc. to Sumitomo Mitsui Banking Corp. in a deal worth around 774.5 billion yen ($7.9 billion). Citi said the deal is expected to generate around $2.5 billion of tangible common equity and that it will recognize an after-tax loss of around $200 million. On a pro forma basis, the deal would have lifted the bank's March 31 Tier 1 capital ratio by around 0.27 percentage points. The deal is expected to close in the fourth quarter of 2009. http://www.marketwatch.com/news/sto...x?guid={A2546F01-D8D7-45AA-9D75-FDA31AB891A2} Does it mean Citi shares will raise today 0.27 % ?
1) Nikko Cordial Securities is staffed with "nice guys". 2) The Nikko Asshole Securities subsidiary will be impossible to sell off.