Mexico president says does not rule out buying part of Citi unit Banamex
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2023-05-24 23:29
MEXICO CITY Mexican President Andres Manuel Lopez Obrador said on Wednesday he does not rule out the possibility

MEXICO CITY Mexican President Andres Manuel Lopez Obrador said on Wednesday he does not rule out the possibility of the government stepping in to buy a part of U.S. bank Citigroup's local retail unit, adding the government would have up to $3 million at its disposal.

Citigroup announced earlier on Wednesday it will pursue an initial public offering of its Banamex unit instead of a sale, arguing it is the optimal path to maximizing value for shareholders.

(Reporting by Valentine Hilaire, Dave Graham and Ana Isabel Martinez; Editing by Anthony Esposito)

Tags sale citigroup epus finance president mexico