Citigroup in the United States has abandoned its plans to acquire Wachovia, clearing the way for Wells Fargo. This acquisition will create the biggest US retail bank with 6,675 branches (compared with Bank of America's 6,139). The deal, paid entirely in shares, was worth USD 11.7 billion in Friday evening, down from USD 15.1 billion when announced on 3 October 2008. (I.L.)