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Citigroup to pursue IPO for its Mexico retail unit


(Reuters) – Citigroup Inc will pursue an initial public offering of its Banamex unit that consists of its consumer, small business and middle-market banking operations in Mexico, the bank said on Wednesday.

Mexico’s conglomerate Grupo Mexico had been in talks to buy the unit, a person familiar with the matter had told Reuters earlier this month.

(Reporting by Niket Nishant and Saeed Azhar in Bengaluru; Editing by Arun Koyyur)

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