Sallie Mae Interested In Citi's Student Loan Business

From Dow Jones:

"SLM Corp. (SLM) is interested in acquiring loan portfolios and servicing rights from major student lenders suffering from the termination of the Federal Family Education Loan Program, the company said at a webcast investor conference Wednesday.

Vice Chairman and Chief Financial Officer Jack Remondi told participants at the Barclay's Financial Services Conference in London that SLM, known commonly as Sallie Mae, "would be interested in exploring" the student lending operations of Citigroup Inc. (C), which is the next largest player in the industry. Citigroup has placed its 80%-owned Student Loan Corp. (STU) in Citi Holdings, its line of non-core businesses, which it has said it wants to exit as soon as possible."

Here is a link to their investor meeting held today.  I hope to have a summary transcript later this evening.