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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Citigroup’s Mexico retail unit will go public after sale fails.

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The logo of Banamex bank is on a branch in Mexico City, Mexico, November 17, 2017. REUTERS/Henry Rom... The logo of Banamex bank is on a branch in Mexico City, Mexico, November 17, 2017. REUTERS/Henry Romero
The logo of Banamex bank is on a branch in Mexico City, Mexico, November 17, 2017. REUTERS/Henry Rom... The logo of Banamex bank is on a branch in Mexico City, Mexico, November 17, 2017. REUTERS/Henry Romero

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On Wednesday, Citigroup Inc. (C.N) announced its Banamex consumer, small business, and middle-market banking operations in Mexico will be listed.

A source told Reuters earlier this month that Grupo Mexico (GMEXICOB.MX) was in talks to buy the unit.

More than a year ago, Citi CEO Jane Fraser disclosed plans to sell the arm as part of a strategy makeover to quit 14 consumer banking markets in Asia, Europe, the Middle East, and Mexico.

The global bank expects IPO completion in 2025. Citi lost 1.7% premarket.

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