© Reuters. FILE PHOTO: Mexico’s President Andres Manuel Lopez Obrador speaks during a news conference at the Secretariat of Security and Civilian Protection in Mexico City, Mexico March 9, 2023. REUTERS/Henry Romero/
MEXICO CITY (Reuters) – 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 (NYSE:)’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.
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