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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Hundreds of thousands of fans queued online for tickets to Miguel’s highly anticipated fall tour in Mexico on Tuesday, prompting the Mexican singer to announce new tour dates to meet demand
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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 RICARDO CASTILLO Mexican Steel King Tanked, Again Spanish police on Saturday, Nov. 8, arrested Mexican citizen Alonso Ancira Elizondo in the island resort of Palma de Mallorca. Ancira, head of the steel foundry Altos Hornos de México (AHMSA), now faces extradition to Mexico. He was free on bond but the court, known as the National Audience of Spain, rejected
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By RICARDO CASTILLO Private Hospital Expropriations Mexican President Andrés Manuel López Obrador (AMLO) published an executive order on Friday, March 27, awarding the federal government the right to “make use of all medical sectors, public, social and private, in the regions affected by the Covid-19 pandemic.” In short, private hospitals may be privatized for pandemic use only. The decree, published
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By RICARDO CASTILLO It’s the end of July and figures are beginning to trickle in regarding the state of Mexico’s economy. The first one landed on Friday, July 26, from the National Institute of Geography and Statistics (Inegi), which is the nation’s foremost authority in gauging financial and industrial trends and the news is not good since the Gross Domestic
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By EARL ANTHONY WAYNE Former U.S. ambassador to Mexico and public policy fellow at the Woodrow Wilson International Center in Washington, D.C. (On Jan. 25, Ambassador Wayne offered a conference on bilateral cooperation in the fields of education, innovation and workforce development at the Woodrow Wilson Center’s Mexico Institute’s Innovative Forum. This is a transcript of that presentation.) During my years as
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By RICARDO CASTILLO Here’s the sequence of events that led to a market selloff at the Mexican Stock Exchange (Bolsa Mexicana de Valores) that provoked the loss of nearly 6 percentage points and nearly 90 billion pesos over the last week, mostly for banks. First, on Wednesday, Nov. 7, came the not-so-casual news from the National Regeneration Movement (Morena) political party majority leader
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