U.S. Will Sell AIG Stake ‘as Soon as Practicable,’ Massad Says
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The U.S. Treasury Department, which agreed yesterday to a plan that will give it 92 percent of American International Group Inc.’s common stock, said it will dispose of the stake “as quickly as practicable.”
“We’ve made it clear all along that we intend to dispose of our investments as soon as practicable,” Tim Massad, Treasury’s acting assistant secretary for financial stability, said today in a Bloomberg Television interview. “Let me say we haven’t made any decisions about how to sell the shares.”