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Mexico eyeing market concentration on Citi sale, ministry says -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: An ATM branch of Citibanamex is seen in Mexico City (Mexico), May 4, 2017. Picture taken May 4, 2017. REUTERS/Henry Romero

MEXICO CITY (Reuters – Mexico is paying close attention to market concentration. Citigroup (NYSE: ) Mexico’s consumer banking businesses will be sold, announced the finance ministry on Wednesday.

According to the ministry, “The exodus of a major consumer bank from our country raises difficult matters for regulators and the finance ministries, and will be subject to rigorous and stringent attention by the finance ministry. This includes a crucial issue concerning concentration.”

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