Inbursa is looking for partners to acquire Banamex . The financial institution announced that it is still bidding to buy Banamex and will seek to do so hand in hand with other businessmen, although it will be Carlos Slim ‘s company that will lead that alliance.
Frank Aguado, director of Investor Relations at Grupo Financireo Inbursa, said in a call with investors that they would pay a price that suits the business.
“If we can’t do it at a reasonable price and that makes sense for our business, we won’t let the process continue. So far we’re still there and the idea is for Inbursa to lead the process,” Aguado said.
The manager said that they will evaluate that with the purchase of the bank there is a good price, good returns and that it matches the digitization plans that they have in mind.
It is expected to be at the end of next year, when Citigroup, the parent company and owner of Banamex, announces to whom it sells the consumer business that includes consumer banking, the Afore, the insurance company, the historical and cultural archives as well as buildings, branches and alliances with partners such as BlackRock.
Last week, Banorte confirmed that it is still in the race although it said it could not give details because they were in a period of silence. The next day, Santander reported that it submitted a non-binding offer for Banamex, but that Citigroup pulled it out of the process.