Mexico's Banorte pulls out of bid for Citi's Banamex retail unit

Monex analyst Carlos Gonzalez told Reuters that Larrea’s Grupo Mexico Seems like a good candidate, while Mifel and its investors may not be able to afford the high price, and Slim’s team may not be willing to pay. He added that the lack of potential buyers could lead to a problem: “The problem is that there are very few bidders, so they may have to go to auction Public sale.” Barnes & Noble The decision to quit retail and media mogul Ricardo Salinas Pliego and Spanish bank Santander (BME: 474SAN) earlier this year. from 39 Barclays Bank (London: 21 BARC) said the decision was a positive for Banorte as it provided “key assurances” that it would not make overly “aggressive transactions.”