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John Paulson Sells Entire Stakes in Citigroup, Bank of America

Feb. 14 (Bloomberg) -- Billionaire John Paulson sold his entire stakes in Bank of America Corp. and Citigroup Inc. in the fourth quarter before the bank’s shares rallied.

Paulson & Co. sold 25.1 million shares of Citigroup valued at $643 million as of Dec. 31, according to a filing today with the U.S. Securities and Exchange Commission. The hedge fund sold about 64.3 million shares of Bank of America worth $394 million.

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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