Sale of Banamex would be resolved before the end of the year: AMLO

Although there is still no precise date, the sale of Banamex by the American Citigroup could be resolved before the end of the year, revealed the President Andres Manuel Lopez Obrador.

In his morning conference this Monday, the president clarified that there is an agreement not to dwell on the subject until it is decided to whom the consumer banking business and companies of the Citi subsidiary in Mexico will be sold.

However, he confirmed that there are three contenders to take over Banamex, which, although it has lost market share in recent years, remains one of the main banks operating in the country.

I already think that the bank issue would be resolved (…) they have told me that soon, that it may be that before the end of the year, I still do not have a date, they have not informed us yet, ”he said.

reiterate recommendations

The Chief Executive reiterated his government’s exhortations before this sale process, which are: that the buyers be Mexican; that they are up to date in the payment of taxes; that the cultural heritage of Banamex stays in the country, and that workers are not fired.

“If it is possible, because they are all recommendations, although they have not been accepted, that workers not be fired,” he stressed.

Until now there are three that have not declined their participation in the Banamex purchase process: Inbursa de Carlos SlimMifel Group of Daniel Beckerand the businessman German Larrea.