© Reuters. FILE PHOTO: A man walks past a Citibanamex bank branch in Mexico City, Mexico January 13, 2022. REUTERS/Gustavo Graf
MEXICO CITY (Reuters) – Mexican bank Grupo Financiero Inbursa said on Wednesday it had pulled out of the bidding process for Citigroup (NYSE:)’s Mexican retail arm Citibanamex.
“Inbursa confirms that, following submission of a non-binding proposal for the businesses in question, the parties mutually agreed that Inbursa will not be continuing to the next stages of the process,” it said in a filing.
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