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
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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
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Pressed for time, and with a plan to inaugurate this new train route in December of this year to funnel passengers to the hard-to-get AIFA, AMLO has resorted to the expropriation of land
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As a result of the railways expropriation, Grupo México shares on the Mexican Stock Exchange (BMV) fell by 4.29 percent
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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
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By THÉRÈSE MARGOLIS The Pandora Papers, which were released on Sunday, Oct. 3, by the International Consortium of Investigative Journalists (ICIJ), exposing the offshore financial havens and hidden riches of some of the world’s biggest movers and shakers, has opened a whole new can of worms for the leftist National Regeneration Movement (Morena) party of Mexican President Andrés Manuel López
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By THÉRÈSE MARGOLIS More than 3,000 Mexicans — including three billionaires and a former close advisor to President Andrés Manuel López Obrador (AMLO) — have been implicated in the so-called Pandora Papers, a trove of more than 11.8 million documents collected by the International Consortium of Investigative Journalists (ICIJ) that exposes secretive offshore accounts that allowed government leaders, financial tycoons
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By RICARDO CASTILLO Rumors Abound Ever since Mexican President Andrés Manuel López Obrador (AMLO) announced in a tweet on Sunday, Jan. 24, that he had tested positive for coivd-19 and had gone into quarantine, countless rumors have been flying across the media and gossip mills as to the validity of his announcement. Some critics suggested that AMLO had not, in
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By RICARDO CASTILLO AMLO and Governors Powwow Mexico’s 32 governors are giddying up to meet on Wednesday, Aug. 19, with President Andrés Manuel López Obrador (AMLO) in San Luis Potosí. Previous to the in-person summit, a group of 10 governors known as the Federalist Alliance video conferenced on Saturday, Aug. 15, to outline a plan of discussion with the president.
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By RICARDO CASTILLO Brutal Contradictions in 4T Environment and Natural Resources Secretary (Semarnat) Victor Manuel Toledo Manzur in an apparently private gathering called on the public not to idealize Mexican President Andrés Manuel López Obrador’s (AMLO) Fourth Transformation (4T) ideological program because, he said, there are within it “brutal contradictions” and “it does not exist” when it comes to protecting
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