AMLO Wants Citi’s Mexico Unit to Be Bought by Local Investors

Mexico’s President <-bsp-person state="{"_id":"0000017e-5579-d767-affe-ddf9f7240000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Andres Manuel Lopez Obrador said he prefers Citigroup Inc.’s retail-banking operation in Mexico be bought by local investors, in his first public comments on what’s expected to be the country’s largest banking deal in years.

The president, who’s been avoiding in-person events since testing positive on Jan. 10 for Covid-19 for a second time, said in a video address that potential Mexican buyers included <-bsp-bb-link state="{"bbHref":"bbg://securities/0610071D%20MM%20Equity","_id":"0000017e-5579-d767-affe-ddf9f7290000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Banco Azteca SA’s <-bsp-person state="{"_id":"0000017e-5579-d767-affe-ddf9f72a0000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Ricardo Salinas Pliego, Grupo Financiero Inbursa SAB’s <-bsp-person state="{"_id":"0000017e-5579-d767-affe-ddf9f72a0002","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Carlos Slim, and Grupo Financiero Banorte SAB de CV’s <-bsp-person state="{"_id":"0000017e-5579-d767-affe-ddf9f72a0004","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Carlos Hank Gonzalez.

“We’re not against foreigners, but ...