Mexico president says does not rule out buying part of Citi unit Banamex
MEXICO CITY, May 24 (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'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.
Our Standards: The Thomson Reuters Trust Principles.
- DealsFounder of Brazil's CVC to invest $15 million, new CEO picked
Brazilian travel operator CVC said on Friday it has reached an agreement with its founder for a 75 million reais ($15.13 million) investment in the company, as well as electing a new chief executive officer.