Grupo Financiero Banorte, one of the main banks in Mexico, released a statement announcing that it will no longer continue in the process organized by Citigroup for the acquisition of Banamex.
Grupo Financiero Banorte, SAB de CV (“Banorte”) informs the investing public that, as of October 20, 2022, Banorte is not continuing in the process organized by Citigroup, Inc. in relation to the potential sale of part of the operations of Citibanamex in Mexico”,the bank said in a brief statement.
He also added that Grupo Financiero Banorte reiterates to the investing public that it will continue to follow the best international corporate practices in matters of Corporate Governance and disclosure of information.
So far, Grupo Financiero Inbursa, owned by Carlos Slim, the director of Grupo México, Germán Larrea, and Grupo Financiero Mifel, owned by Daniel Becker, the current head of Bancos de México, continue to compete.
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