|
NEW YORK (AP) - A plan to bail out the struggling bond insurer Ambac Financial Group Inc. could be announced Monday or Tuesday, CNBC reported Friday, citing bankers working on the deal.
There is a consortium of banks — including Citigroup Inc., UBS AG, Wachovia Corp. and Royal Bank of Scotland Group PLC — working with the New York State Insurance Department on a possible solution to the Ambac's problems, a person familiar with the discussions told The Associated Press.
The person, who asked to remain anonymous because he was not authorized to speak publicly about the subject, said there "seems to be progress."
|