May 26, 2023 14:00 GMT
AMLO Says Citi Would Have To Pay Taxes For Banamex IPO
- Citi would have to pay Mexico taxes for Banamex’s IPO, President Andres Manuel Lopez Obrador said at a press briefing Friday. (BBG)For reference, Citi on Wednesday said it would stop talks to sell the bank after over a year of negotiations, and that it now plans to sell shares of Banamex in an initial public offering.
- That opens room for the Mexican government to seek to be a partner in the bank, mused AMLO in his daily morning presser on Thursday, adding that the country could spend as much as $3 billion on a stake in Banamex. The president added that he would reach out to the Finance Minister to start talks on the possibility of a private-public partnership with Citi.