Citigroup’s pivot away from the direct sale of Mexican bank Banamex to instead seek an IPO in 2025 was partially prompted by López Obrador’s continued demands surrounding the sale, financial experts say
Read more
After a year and a half of negotiating with Mexican firms for the sale of Banamex, New York financial firm Citigroup announced that Banamex will instead be sold via initial public offering in 2025
Read more
PULSE NEWS MEXICO Mexican billionaire Carlos Slim’s Inbursa financial group announced on Wednesday, Nov. 23, that it was withdrawing from its former commitment to purchase Banamex, Citigroup’s consumer and corporate banking business in Mexico. “After the presentation of a nonbinding proposal for the acquisition of said businesses, the parties have mutually agreed that Imbursa will not continue in the following
Read more
OPINION By THÉRÈSE MARGOLIS Despite the fact that just five months ago, Citigroup CEO Jane Fraser met with Mexican President Andrés Manuel López Obrador (AMLO) at the National Palace, declaring that the international financial group considered Mexico “a country of opportunities” thanks to its economic, political and social stability, the corporation announced on Tuesday, Jan. 11, that it would be
Read more