EconomyLast Minute: Sale of Banamex will not be stopped...

Last Minute: Sale of Banamex will not be stopped by Oceanography, assures AMLO

President López Obrador said that the decision of a civil judge in CDMX to suspend the sale of Banamex due to the Oceanography case is not appropriate and that the sale is continuing.

“Specialists and law maintain that there is no basis and the judicial power is not going to stop the process of buying and selling Banamex, that continues,” said the president in his morning conference.

On Tuesday, Citibanamex said that it would file an injunction against the precautionary measure of the civil judge since it considers that Oceanografía’s allegations are unfounded.

López Obrador added that Citigroup has already accepted that Mexican investors or businessmen have preference in the purchase process. Last month, the Spanish bank Santander announced that Citi had rejected its offer and was left out of the sale process.

The president said that he maintains the recommendations to Citi not to make layoffs, that the buyer be Mexican and be up to date with the payment of their taxes. He also expressed his desire that the bank stay in Mexico so that the profits stay in the country.

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