MEXICO CITY, Dec 9 (Reuters) – Mexican President Andres Manuel Lopez Obrador stated on Friday there are two remaining events bidding to purchase the Mexican retail arm of U.S. banking big Citigroup .
Lopez Obrador expects the bid for one among Mexico’s greatest banks to be resolved at first of 2023, he stated throughout a daily information convention.
Sources have instructed Reuters billionaire German Larrea’s conglomerate Grupo Mexico (GMEXICOB.MX) is battling Daniel Becker’s smaller Banca Mifel to purchase the lender.
Larrea has the required assets to accumulate the unit – referred to as Banamex – and could also be keen to pay slightly extra for a model in a sector the place he has no presence, analysts say.
However sources instructed Reuters that Mifel has in the meantime lined up buyers together with Apollo International Administration and the Abu Dhabi Funding Authority (ADIA) to fund its bid.
Citigroup Chief Govt Officer Jane Fraser has been seeking to simplify the agency by promoting off some its worldwide operations.
Reporting by Valentine Hilaire; Modifying by Sarah Morland
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