Citi CEO Visits Mexico President During Banamex Stake Talks
Citigroup CEO Jane Fraser is in Mexico City for discussions with President Claudia Sheinbaum. The talks are centered around the potential public listing of Citigroup's retail unit, Banamex. Citigroup has been seeking to divest its Mexican consumer banking business, Banamex, as part of a broader strategic shift to focus on its institutional and wealth management operations. The meeting between Fraser and President Sheinbaum is likely to address the details and timeline of a potential Banamex IPO or sale. Citigroup's decision to exit the Mexican retail market is part of its global restructuring efforts to streamline its operations and concentrate on its core business areas. The outcome of these discussions could have significant implications for Citigroup's presence in Mexico and the future of Banamex.
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