Nubank rules out buying Banamex

Last Tuesday, Citigroup announced that it was selling its retail and consumer participation in Mexico as well as all the buildings and cultural heritage that the bank currently has.

The bank said it was seeking a complete sale and not parts of the business, which according to foreign valuations ranges from 12.5 and 15.5 billion dollars .

Nubank sounded like one of the possible candidates to buy Banamex given its rapid growth and entry into the “unicorn” category. Although a BofA report ruled out the possibility of a Brazilian player, given his limited international experience and the “can of cross-border synergies”.

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