6 August
Citigroup expects to sell or IPO its consumer business in Mexico in 2023
Citigroup Inc expects to sell its consumer business in Mexico or to make an initial public offering, according to the company's chief financial officer. The offering could take place as early as this year.
Mark Mason, the organization's chief financial officer, told a Barclays investor conference that the company wants to make sure they get the most out of a company sale or IPO.
In January, Citi announced its exit from Mexico as part of a plan to bring the group's profitability and share price dynamics to the level of its competitors.
Mexico is one of 14 consumer markets from which Citigroup planned to exit.
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