MEXICO CITY, Nov 7 (Reuters) – Mexican President Andres Manuel Lopez Obrador stated on Monday there are no less than three remaining bidders for Citi’s native retail arm Banamex.
Talking at an everyday information convention, Lopez Obrador stated a purchaser may very well be decided earlier than the 12 months ends.
“There are three or 4… three candidates to purchase the financial institution,” he stated with out giving names of the bidders.
Lopez Obrador famous he would like the bidder to be Mexican and an entity updated with taxes.
Mexican moguls Carlos Slim and German Larrea are squaring off to amass Citigroup’s retail arm after the newest spherical of bidding left the duo as frontrunners, sources conversant in the matter instructed Reuters on the finish of October.
Banamex is being offloaded by the U.S. financial institution as a part of Chief Govt Officer Jane Fraser’s efforts to promote some worldwide operations and simplify the agency.
Reporting by Mexico Metropolis Newsroom; Modifying by Daina Beth Solomon
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