Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.
USAWorld News

Mexico Considers Benefits of Buying Banamex, Considers Synergies with State Bank

Business and financeOffers

Reuters exclusively revealed that Mexico is assessing whether buying the Mexican consumer unit of Citigroup Inc (CN) would help drive financial inclusion, potentially in combination with a state-owned bank such as Banco del Bienestar. US lender Citigroup scrapped the sale of the Banamex unit last week and said it would put it up for sale instead, a surprise move coming amid talks to sell the business to Mexican billionaire conglomerate Grupo Mexico German Larrea (GMEXICOB.MX).

Market Impact

After Citi announced its IPO plans, Chairman Andres Manuel Lopez Obrador said the government could acquire up to half of Banamex. Before Citi U-turnbanking sources said Grupo Mexico had been eyeing the unit for about $7 billion. Banamex will continue to be reported as part of Citi’s continuing operations until ownership falls below a 50% voting interest, in which case the business will be deconsolidated.

Article tags

Topics of interest: Business and financeOffers

Type: Best Reuters

Sectors: Business and finance

Regions: Americas

Countries: Mexico

Types of victory: Exclusivity

Types of story: Exclusive / Scoop

Media Types: Text

Customer impact: Significant national history


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.

Back to top button