Index hide1 Carlos Slim will no longer go for the purchase of Citibanamex and the businessman made the decision through Inbursa, which was responsible for carrying out the acquisition attempt.3 Carlos Slim’s fortune has been strengthened by his diversification in the retail and telecommunications industries, to mention the main ones.
Carlos Slim will no longer go for the purchase of Citibanamex and the businessman made the decision through Inbursa, which was responsible for carrying out the acquisition attempt.
Citibanamex is ranked alongside Banco Azteca and BBVA among the top banks in Mexico.
Carlos Slim’s fortune has been strengthened by his diversification in the retail and telecommunications industries, to mention the main ones.
Information that has been shared by the BMV to specialized media, he anticipates that the joint decision between Citibanamex and Inbursa is to no longer continue in the purchase attempt process.
The decision of the brand happens at a time of great economic activity, where inflation is changing economic trends and in the midst of these phenomena decisions are made such as giving up on the purchase of a bank.
Carlos Slim made a decision
As we anticipated, Inbursa, from Carlos Slim, will no longer continue in the process of trying to buy Citibanamex and the measure adds the richest man in Mexico to businessmen like Ricardo Salinas, who also got out of the attempt to become the banking chain.
At least four factors influenced the purchase decision of Ricardo Salinas, who assured that he would buy Citibanamex, but like every consumer, he regretted it and decided to save billions of pesos instead of investing in said business, for which he even compared the investment , recognizing that opening a parking lot would have more income. He explained that he prefers to use it in the parking lot. “I considered buying Banamex but decided not to (…)
According to Salinas, the problems with Citibank were time, investment, technology and operational improvements that led him to abandon the bank acquisition. When announcing his change of opinion, the businessman said that competitive strategy is important to him and warned that it will have nothing to do with parking, customer service, technology, the number of branches, hours of operation, prices from whom businesses are purchased. and it is sold in dollars; in addition to the attention provided to Banco Azteca customers.
We will compete with any bank, we will be the only bank in customer service, technology, branches, hours, dll purchase/sale prices, parking, and owner to be determined… this is for everyone who wants to compete @ Azteca Bank is hard for anyone who competes . — Ricardo Salinas Priego (@RicardoBSalinas) June 23, 2022
High-value purchases promoted by billionaires and media personalities greatly influence the perception of their personal and corporate brands. They always dictate financial activities because their words have a huge impact on the stock market and show an important aspect of how much influence there is from simple people who create content to entrepreneurs who are empowered to make decisions that affect the economy. A
Looking at estimates from Credit Suisse, the bank warns that the number of millionaires will increase by 1.73 million in 2021 amid health concerns in countries including the US, followed by Germany with an increase of 633 thousand. Millionaire wealth and Australia increased by 392,000.
Marketing is interesting in the way that it fits the profile of these characters, they are a really interesting key point to be able to design campaigns that fit the needs of billionaires around the world, their purchasing power and the ecosystem that they are using. . It works provides a very important insight, for example, when we see that in the clothing industry brands like Louis Vuitton, Chanel and Gucci are more valuable than brands like Zara, we take this insight with us. We are talking about clothing, and the fact that brands with high-cost labels in this segment are at the top of the most valuable list is a unique opportunity for marketers to change their strategy to this market to adapt to the agencies and platforms that are successful. in this market.