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’Battle of the Banamex
Here’s the latest development in the peculiar saga that is the ongoing tussle over Citi’s Mexican subsidiary, Banamex.
From the FT:
Mexico’s Supreme Court is this week set to probe a case that could potentially force Citigroup,
Citi could lose Mexican unit
Mexico’s Supreme Court is this week set to probe a case that could potentially force Citigroup to sell its profitable and highly prized Mexican subsidiary. The case stems from claims by opposition senators that the US bail-out of Citi last year placed its Mexican subsidiary,
Citi, Banamex and the peso
Citi’s Banamex saga has taken a rather ludicrous turn:
MEXICO CITY, March 19 (Reuters) – Mexico said on Thursday that foreign governments can own stakes in its banks given the crisis in global financial markets,
Bana-vexed
The latest on Citi’s Mexican saga is this:
March 3 (Bloomberg) — Mexican opposition lawmakers plan to propose a bill that may force Citigroup Inc. to give up control of Grupo Financiero Banamex SA after the U.S.
Citi Mexicana
Does the US government’s 36 per cent stake in Citi violate Mexican ownership laws? Have we got our countries confused? No.
Citi owns Banamex, a Mexican bank with circa 1,200 branches and 2.6m checking accounts.