Report: Citi Considers WaMu Bid

(Reuters) – Citigroup Inc is considering making a bid for Washington Mutual Inc, the Wall Street Journal said on Friday, citing people familiar with the situation.

JPMorgan Chase & Co is biding its time on a potential bid, the newspaper said, citing people close to JPMorgan. 

Calls to the three finance companies were not immediately returned.

However, it is not certain that Citigroup will make a bid for WaMu, the Journal said, citing people familiar with the discussions.

The newspaper also said Federal Deposit Insurance Corp met with WaMu’s Chief Executive Alan Fishman earlier this week, and FDIC expressed support for the company’s decision to seek buyers, according to people familiar with the situation.
 
FDIC could not be immediately reached for comment.

(Reporting by Varsha Tickoo in Bangalore; Editing by David Cowell)