Dave Graham (NYSE)

MEXICO CITY, (Reuters) – Mexico’s government is neutral about potential buyers of its assets. Citigroup (NYSE) – The U.S. Bank is Selling in Mexico. International and Domestic Bidders Welcome, Rogelio Ramirez De la O, Finance Minister, stated Wednesday.

Citigroup stated Tuesday that it would sell its Mexican consumer bank operations to Mexico. Ramirez spoke with Reuters and said the process was open to everyone.

He said that there were both Mexican and foreign bidders with Mexico or outside Mexico. He stated that the government was not trying to affect or adversely impact the sale.

He stated that “it would be inappropriate for the government to signal at this stage,” adding Mexico has “no bias.”

Ramirez said that as the process evolved, regulators and the government would carefully review the bids. Ramirez was clear about Mexico’s desire to keep their Citibanamex assets for future use.

“This is because Citibanamex account owners don’t feel they have to change banks,” he explained.

Although the finance ministry stated that it will be closely monitoring the implications of the deal for concentration market power, Ramirez said this was an antitrust task for the Federal Economic Competition Commission.

Citibanamex Mexico is the number 1 bank. Mexico’s No. 3 consumer bank. Ramirez, when asked if there were antitrust concerns that could affect a Spanish BBVA bid (MC):, a major player in Mexico, said Ramirez it was not his responsibility to decide on market concentration.

They control a large portion of the market. Ramirez indicated that neither the government nor Citigroup had any interest in buying the assets. Ramirez also said that it would take some time for the sale to occur. He did not predict the timeframe.