The actions of Citigroup, listed on the New York Stock Exchange, They operate with a moderate advance in the day of this Wednesday. The securities of the financial company, which yesterday reported in a statement its decision to sell its consumer and corporate banking businesses in Mexico, advance in Wall Street.
The financial papers rose a moderate 0.21% to 67.25 dollars, with no reaction to this news, which, he also reported, could include an operation in the stock market. It is worth mentioning that Citi would maintain its institutional banking; that is, its largest clients, investment banking, markets and brokerage houses.
To carry out the movement, Citi would obtain a new banking license to continue with its operation in Mexico and Banamex would keep the current one. “We hope that this intention to sell its assets and its activities can be carried out successfully,” said Adán Augusto López, head of the Interior.
Assets for sale, the company explained, total more than $ 44 billion in assets and $ 4 billion in tangible capital. According to Actinver, its sale would be a medium-term investment opportunity for Banorte Financial Group, one of the strongest candidates for this acquisition.
Banorte’s securities, which are listed on the Mexican stock exchange (BMV) show a movement of 3.77% at a price of 148.38 pesos per unit. According to the Actinver report, expanding its deposit base, consumer and business portfolio would be positive, although high multiples would cause volatility.