Citicorp Writedown Sparks Talk Of Quotron Sale, But New Premises System Proceeds

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Citicorp's announcement two weeks ago that it had taken a $400 million third-quarter writedown on its investment in Quotron Systems Inc. made speculation on prospective buyers for the unit a favorite industry pastime. But the bank had already cleared funding for Quotron's planned New Premises System, which would revamp the vendor's network infrastructure and delivery platforms.

A Citicorp spokesperson confirms that Quotron is no longer regarded as one of the bank's strategic businesses. The s

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