Citigroup denies Egg sale

Citigroup said yesterday its online banking business Egg was not for sale, after a British newspaper reported the firm had held talks with trade buyers and a private equity firm. A spokeswoman for Citi UK consumer said Egg was not at the moment for sale. The response was prompted by a newspaper report which cited industry sources as saying the bank was looking to sell Egg, just three years after buying it. The newspaper report also quoted Virgin Money sources as saying they were aware the bank was up for sale, but said they would not be interested in a deal. The newspaper said at least one major private equity group had expressed an interest.