Santander Eliminated From Bidding For Citi's Mexican Bank

By Najiyya Budaly (July 22, 2022, 2:07 PM BST) -- Spanish lender Santander said on Friday that it has failed to make the shortlist in the bidding process to buy Citigroup's retail bank in Mexico after submitting a non-binding offer to the American banking giant earlier this year.

Santander says it has been told by Citibanamex-owner Citigroup that it "will not be continuing in the next stages of the process" to buy the U.S. company's retail bank in Mexico. (Pedro Pardo / AFP via Getty Images) Banco Santander SA said it has been told by Citigroup Inc. that it "will not be continuing in the next stages of the process." The...

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