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Mexico eyeing market concentration on Citi sale, ministry says

Published 01/12/2022, 11:04 AM
Updated 01/12/2022, 11:05 AM
© Reuters. FILE PHOTO: A Citibanamex branch is seen in Mexico City, Mexico May 4, 2017. Picture taken May 4, 2017. REUTERS/Henry Romero
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© Reuters. FILE PHOTO: A Citibanamex branch is seen in Mexico City, Mexico May 4, 2017. Picture taken May 4, 2017. REUTERS/Henry Romero

MEXICO CITY (Reuters) - Mexican will pay close attention to the issue of market concentration as Citigroup (NYSE:C) prepares to sell its consumer banking business in Mexico, the finance ministry said on Wednesday.

"The departure from our country of such a large consumer bank raises delicate matters for the finance and regulatory authorities, which will receive rigorous and strict attention from the finance ministry, including a fundamental issue regarding concentration," the ministry said.

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