Nov 24th, 2008 | Money survey

Somali pirates to aquire Citi?



   November 20 (Bloomberg) -- The Somali pirates, renegade Somalis known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup.
  

The pirates would buy Citigroup with new debt and their existing cash stockpiles, earned most recently from hijacking numerous ships, including most recently a $200 million Saudi Arabian oil tanker.

The Somali pirates are offering up to $0.10 per share for Citigroup, pirate spokesman Sugule Ali said earlier today. The negotiations have entered the final stage, Ali said.
  

"You may not like our price, but we are not in the business of paying for things. Be happy we are in the mood to offer the shareholders anything," said Ali.

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http://www.theglobeandmail.com/servlet/story/RTGAM.20081121.WBstreetwise20081121112035/WBStory/WBstreetwise



Somali pirates to aquire Citi?


12 votes, 50 views , 1 comment
 
 
Poll tags:Money, Citi, Funny, Travel, Pirates, Movies

 
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1 Comment
Macbrock
(Reply)
Florida, United States

posted Nov 25th, 2008 at 21:45 CST

A Jack Sparrow twist:-There are very few people dying from [Somali] piracy. The areas that are being governed by the pirate companies are functioning and less violent than areas where piracy does not exist, indeed pirate cities are thriving. The pirates are not only commercial in nature, but they are enemies of the Islamic extremists that represent the enemy of the United States. It sounds crazy to say, but the pirates are essentially the secular, liberal capitalists of Somalia, and the United States would prefer to deal WITH not AGAINST those types of people. Know your history, the Europeans preferred dealing with the Brashaws of the Barbary states than the alternative, the Islamic militant armies. We are essentially allowing the pirates to build themselves as regional Brashaws of Somalia with the ransom money from piracy, while the Islamists who remain violent are struggling for funding.-http://informationdissemination.blogspot.com/2008/11/are-pirates-problem-or-solution.html 

 
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