NYSE
The company’s securities, which are listed on the New York Stock Exchange, trade with a slight gain, with no apparent reaction. Banorte’s shares, on the BMV, rise strongly.
The shares of Citigroup, which are listed on the New York Stock Exchange, operate with a moderate advance in the day of this Wednesday. The shares of the financial company, which yesterday announced in a statement its decision to sell its consumer and corporate banking businesses in Mexico, advanced on Wall Street.
The shares of the finance company rise a moderate 0.21% to 67.25 dollars, with no reaction to this news that, also communicated, could include an operation in the stock market. It is worth mentioning that Citi would maintain its institutional banking; that is, its largest clients, investment banking, markets and brokerage houses.
To carry out the movement, Citi would obtain a new banking license to continue its operations in Mexico and Banamex would keep the current one. “We hope that this intention to sell its assets and activities can be carried out,” said Adán Augusto López, head of the Interior, on this subject.
Banorte Avanza
Assets for sale, explained the company, add up to more than 44,000 million of dollars in assets and 4,000 million in tangible capital. According to Actinver, its sale would be a medium-term investment opportunity for Grupo Financiero Banorte, one of the strongest candidates for this acquisition.
Banorte’s shares, listed on the Mexican Stock Exchange (BMV) show a movement of 3.77% at a price of 148.38 pesos per unit. According to the Actinver report, expanding its deposit base, consumer and business portfolio would be positive, although due to high multiples it would cause volatility.
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