US banking giant Citigroup, which has agreed to sell a controlling stake in its retail brokerage business to Morgan Stanley as part of a broader strategy to break-up its operations, could fetch between $64bn (€48.3bn) and $175bn for its six main business segments, according to research from CreditSights, the independent research firm.

In a note to clients, entitled Citigroup: Punts broker out of barn-yard, next?, analysts at CreditSights estimated Citigroup's six main businesses - the brokerage Smith Barney, its private bank, global cards, securities and banking, transaction services and consumer banking operations - could be sold for a low of $64bn to a high of $103bn based on forward earnings in a distressed environment.