October 25, 2017 / 5:53 PM / 2 months ago

Mexican bank Interacciones to merge with larger peer Banorte-sources

MEXICO CITY, Oct 25 (Reuters) - Mexico’s fourth-largest bank Grupo Financiero Banorte and its smaller peer Grupo Financiero Interacciones will shortly announce a merger, two people familiar with the matter said on Wednesday.

Rumors of a takeover have circulated since Carlos Hank Gonzalez stepped down as chief executive of Interacciones three years ago to join the board of Banorte , where he is now chairman.

One of the two people, who declined to be named due to the confidentiality of the matter, said that the deal could be announced later on Wednesday. The deal was also reported on Wednesday by several of Mexico’s national newspapers.

Banorte did not immediately respond to a request for comment. An Interacciones executive did not reply to a request for comment. (Reporting by Sheky Espejo and Noe Torres; Editing by Dave Graham)

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