UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO.1)*
Primus Telecommunications Group, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
741929-10-3
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(CUSIP Number)
March 31, 2007
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/x/ Rule 13d-1(b)
/ / Rule 13d-1(c)
/ / Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
Page 1
of 6 Pages
SCHEDULE 13G
CUSIP NO. 493144-10-9 Page 2 of 6 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citigroup Inc.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) / /
(b) / /
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF (5) SOLE VOTING POWER 0
SHARES
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BENEFICIALLY (6) SHARED VOTING POWER 5,419,236*
OWNED BY
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EACH (7) SOLE DISPOSITIVE POWER 0
REPORTING
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PERSON (8) SHARED DISPOSITIVE POWER 5,419,236*
WITH:
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,419,236*
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(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) / /
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.7%*
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(12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC
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* Assumes conversion/exercise of certain securities held.
Item 1(a). Name of Issuer:
Primus Telecommunications Group, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
7901 Jones Branch Dirve - Suite 900
McLean, Virginia 22102
Item 2(a).* Name of Person Filing:
Citigroup Inc. ("Citigroup")
* In accordance with the Securities and Exchange Commission
Release No. 34-39538 (January 12, 1998), this filing reflects
securities beneficially owned by Citigroup, a holding company
for a global financial services group, on behalf of itself and
its subsidiaries, excluding the Old Lane Partners ("Old Lane")
business. Old Lane, its executive officers and directors and
its direct and indirect subsidiaries may beneficially own
securities of the Company, and such securities are not
reported in this filing. Citigroup (other than Old Lane)
disclaims beneficial ownership of securities beneficially
owned by Old Lane, and Old Lane disclaims beneficial ownership
of the securities reported herein.
Item 2(b). Address of Principal Office or, if none, Residence:
The address of the principal office of Citigroup is:
399 Park Avenue
New York, NY 10043
Item 2(c). Citizenship or Place of Organization:
Citigroup is a Delaware corporation.
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
741929-10-3
Page 3
of 6 Pages
Item 3. If This Statement Is Filed Pursuant to Sections 240.13d-1(b) or
240.13d-2(b) or (c), Check Whether the Person Filing Is a(n):
(a) [ ] Broker or dealer registered under Section 15 of the
Act (15 U.S.C. 78o);
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(15 U.S.C. 78c);
(c) [ ] Insurance company as defined in Section 3(a)(19) of
the Act (15 U.S.C. 78c);
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e) [ ] Investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) [ ] Employee benefit plan or endowment fund in accordance
with Section 240.13d-1(b)(1)(ii)(F);
(g) [X] Parent holding company or control person in accordance
with Section 240.13d-1(b)(1)(ii)(G): See Exhibit 1;
(h) [ ] Savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] Church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3)
(j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
Item 4. Ownership. (as of March 31, 2008)
(a) Amount beneficially owned: See item 9 of cover pages
(b) Percent of class: See item 11 of cover pages
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
(ii) Shared power to vote or to direct the vote:
(iii) Sole power to dispose or to direct the disposition of:
(iv) Shared power to dispose or to direct the disposition of:
See Items 5-8 of cover pages
Page 4
of 6 Pages
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner
of more than five percent of the class of securities, check the
following [X].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
See Exhibit 1 for the identity and classification of the
relevant subsidiaries which directly beneficially own the
securities reported herein.
Item 8. Identification and Classification of Members of the Group.
Not Applicable.
Item 9. Notice of Dissolution of Group.
Not Applicable.
Page 5
of 6 Pages
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURE.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: April 9, 2008
CITIGROUP INC.
By: /s/ Riqueza V. Feaster
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Name: Riqueza V. Feaster
Title: Assistant Secretary
Page 6
of 6 Pages
EXHIBIT INDEX TO SCHEDULE 13G
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EXHIBIT 1
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Identification and Item 3 Classification of the subsidiaries which acquired
the securities being reported by the parent holding companies.