Fannie Mae, Freddie Mac OTC shares extend gains

** Over-the-counter shares of Fannie Mae FNMA.PK and Freddie Mac FMCC.PK rise for the third straight session

** FMCC rises 11.8% at $8.91 after briefly hitting highest since 2008

** FNMA up 6.1% at $10.60 at highest since late May when U.S. President Donald Trump said he was working on taking the housing giants public

** U.S. President Donald Trump's administration has been eying an initial public offering of Fannie Mae and Freddie Mac later this year, a senior administration official told Reuters on Friday, confirming the Wall Street Journal's report

** Billionaire investor Bill Ackman in an X post on Sunday suggested merging the two U.S. government-sponsored enterprises

** Fannie Mae and Freddie Mac have been under the U.S. government's control since 2008 after they suffered heavy losses during the subprime mortgage crisis