Reports of possible Wachovia/Citigroup merger

September 26, 2008 9:07:18 PM PDT
There are reports that banking giant Wachovia has begun talks with Citigroup about a possible merger.Wachovia holds about $120 billion in mortgages that are considered risky. But its retail banking division is considered one of the best in the business.

The New York Times reports the talks are preliminary and may not lead to a deal.