Citigroup is leading an informal group of banks which have lent money to Parmalat amid market predictions that the stricken Italian foods company is just hours from bankruptcy.
No trading has taken place in Parmalat shares since Monday when they fell 66% before being suspended at €0.11 valuing the company at €90m ($111.6m). The share peaked at €3.08 on September 3 this year valuing the company at €2.5bn.
