Mexico’s President Andres Manuel Lopez Obrador said the government would consider participating in Citigroup Inc’s sale of its retail banking unit Banamex if a bid by billionaire German Larrea’s Grupo Mexico SAB fell through.
AMLO, as the president is known, spoke in response to speculation by local press that a bid by Larrea could be affected by a government seizure of a rail line owned by Grupo Mexico. At the presser, AMLO dismissed as false a tweet shared by a local business columnist on Monday that said Larrea was pulling out his bid for the bank.
Source: bloomberg.com
