EconomySantander withdraws from the competition to acquire Banamex

Santander withdraws from the competition to acquire Banamex

The Spanish group Banco Santander reported this Friday that it decided not to continue with the stages of the process to acquire the assets that Citigroup puts up for sale in Mexico.

“Due to the interest in Banco Santander’s participation in the process that Citigroup is carrying out, in relation to the potential sale of certain businesses of its operations in Mexico, Santander confirms that it presented a non-binding offer and that, after having been submitted for Citigroup’s consideration, the Bank has been informed that it will not continue in the following stages of the process”.

Santander had made public its intention to participate in the operation days after Citigroup announced the sale of Banamex.

The Spanish bank joins Ricardo Salinas Pliego in the list of interested parties who intended to keep Banamex’s assets, but who fell by the wayside.

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