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Mexico's Inbursa drops bid for Citigroup's Mexican retail arm Citibanamex

MEXICO CITY (Reuters) -Mexican bank Grupo Financiero Inbursa said on Wednesday it had pulled out of the bidding process for U.S. bank Citigroup (NYSE:C)'s Mexican retail arm...
Mexico's Inbursa drops bid for Citigroup's Mexican retail arm Citibanamex © Reuters. FILE PHOTO: A man walks past a Citibanamex bank branch in Mexico City, Mexico January 13, 2022. REUTERS/Gustavo Graf
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MEXICO CITY (Reuters) -Mexican bank Grupo Financiero Inbursa said on Wednesday it had pulled out of the bidding process for U.S. bank Citigroup (NYSE:C)'s Mexican retail arm Citibanamex.

"Inbursa confirms that, following submission of a non-binding proposal for the businesses in question, the parties mutually agreed that Inbursa will not be continuing to the next stages of the process," it said in a filing.

Mexican corporate titans Carlos Slim's Inbursa and German Larrea's Grupo Mexico were seen as the frontrunners in bidding for Citibanamex, known too as Banamex.

Proposals were submitted last month for Banamex, which is being offloaded by Citigroup as part of Chief Executive Officer Jane Fraser's efforts to sell some international operations and simplify the firm.

Earlier this month, Mexican President Andres Manuel Lopez Obrador said there are at least three remaining bidders for Banamex.

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28-11-2022 08:40:43 (UTC+7)

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    EUR/USD 1.0349 ↑ Sell  
    GBP/USD 1.2037 ↑ Sell  
    USD/JPY 138.77 ↑ Sell  
    AUD/USD 0.6678 ↑ Sell  
    USD/CAD 1.3462 ↑ Buy  
    EUR/JPY 143.61 ↑ Sell  
    EUR/CHF 0.9798 ↑ Sell  
    Gold 1,748.20 ↑ Sell  
    Silver 21.188 ↑ Sell  
    Copper 3.5568 ↑ Sell  
    Crude Oil WTI 74.09 ↑ Sell  
    Brent Oil 81.50 ↑ Sell  
    Natural Gas 7.277 Neutral  
    US Coffee C 164.40 ↑ Sell  
    Euro Stoxx 50 3,962.41 ↑ Buy  
    S&P 500 4,026.12 Neutral  
    DAX 14,541.38 ↑ Buy  
    FTSE 100 7,486.67 ↑ Buy  
    Hang Seng 16,901.00 ↑ Sell  
    Small Cap 2000 1,869.19 ↑ Buy  
    IBEX 35 8,416.60 Sell  
    BASF 49.605 Neutral  
    Bayer 55.45 Sell  
    Allianz 205.35 ↑ Buy  
    Adidas 123.98 Neutral  
    Lufthansa 7.567 ↑ Sell  
    Siemens AG 132.06 ↑ Buy  
    Deutsche Bank AG 10.390 ↑ Buy  
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# So hôm qua # Chênh TG
SJC Eximbank6,660/ 6,730
(6,660/ 6,730) # 1,498
SJC HCM6,660/ 6,740
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