MEXICO CITY, Could 24 (Reuters) – Mexican President Andres Manuel Lopez Obrador stated on Wednesday he doesn’t rule out the potential of the federal government stepping in to purchase part of U.S. financial institution Citigroup’s native retail unit, including the federal government would have as much as $3 million at its disposal.
Citigroup introduced earlier on Wednesday it’s going to pursue an preliminary public providing of its Banamex unit as a substitute of a sale, arguing it’s the optimum path to maximizing worth for shareholders.
Reporting by Valentine Hilaire, Dave Graham and Ana Isabel Martinez; Modifying by Anthony Esposito
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