Citicorp Plans To Sell CDR Subsidiary Hit Snag As EBS Says No, Sources Say

DEALING & NETTING

Officials at Citicorp and Welsh Carson Anderson & Stowe have apparently been sent back to the negotiating table after the EBS Partnership reportedly rejected a proposed deal to sell Citi's Citicorp Dealing Resources (CDR) to Welsh Carson's Global Financial Information Corp. (GFI).

Sources close to the situation say that EBS, which has contractual veto power over the fate of CDR, the technology supplier for its Electronic Broking Service, gave the thumbs down to the deal at a board meeting las