Wells Fargo: We can raise $13.7 bln easily
* Repaying TARP still a goal
* Bank can issue non-guaranteed debt "at any time"
* No big mergers while Wachovia is integrated
* Plans to retain investment bank
By Jonathan Stempel
NEW YORK, May 8 (Reuters) - Wells Fargo & Co (WFC.N: Quote, Profile, Research) said it expects to have no difficulty covering what the government said is a $13.7 billion capital shortfall, and plans to stay away from big acquisitions while it integrates Wachovia Corp.
The fourth-largest U.S. bank sold $7.5 billion of stock on Friday and could boost the sale to $8.6 billion to meet demand. It said strong investor interest resulted in a 25 percent boost in the size of the original offering, from $6 billion.
In an interview, Chief Financial Officer Howard Atkins said the bank expects to generate through its day-to-day operations the additional capital deemed necessary under a government "stress test." Continued...
One Year Later
Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and pushed up tensions with Pakistan. Slideshow | Full Coverage
Liberhan Commission Report
The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya. Full Article
