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Citigroup chairman O'Neill buys $1 million Citi stock

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updated 11/28/2012 8:48:41 PM ET 2012-11-29T01:48:41

(Reuters) - Citigroup Inc chairman Michael O'Neill bought $1 million of the bank's stock about a month after the exit of chief executive Vikram Pandit.

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O'Neill acquired 28,200 shares through a trust at an average price of $35.52 each, the third-biggest U.S. bank said on Wednesday in a regulatory filing.

O'Neill hand-picked new CEO Michael Corbat after the departure of Pandit in mid-October.

Shares of Citigroup closed at $35.07 on Wednesday on the New York Stock Exchange.

(Reporting by Ritika Rai in Bangalore; Editing by Richard Pullin)

(c) Copyright Thomson Reuters 2012. Check for restrictions at: http://about.reuters.com/fulllegal.asp

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