Citigroup in ‘initial discussions’ to sell Mexico business – CFO

2022.04.14 17:05

FILE PHOTO: A man exits a Citibanamex bank branch in Mexico City, Mexico January 13, 2022. REUTERS/Gustavo Graf/File Photo

NEW YORK (Reuters) – Citigroup Inc (NYSE:C) is having “initial discussions” with possible buyers of its Mexico consumer banking business, Chief Financial Officer Mark Mason said on Thursday.

Mason added that recent geopolitical events could make the franchise more appealing to others than in January when Citi announced its intention to dispose of Citibanamex.

Speaking to reporters after the bank posted quarterly results, Mason said the exit process is complex and could still include an initial public offering.

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