<div id="readability-page-1">02:56 PM EST, 12/12/2025 (MT Newswires) -- Mexico's financial authorities are close to approving billionaire Fernando Chico Pardo's bid to acquire a 25% stake in Citigroup's ( C ) Mexican retail-banking unit, Banamex, Bloomberg reported late Thursday, citing people familiar with the matter.The approval process for the 42 billion Mexican pesos ($2.3 billion) bid is in its final stages, the people said, according to the report.Citigroup ( C ) did not immediately respond to MT Newswires' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: 111.75, Change: +0.01, Percent Change: +0.01 MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</div>

Mexican financial authorities are nearing approval for billionaire Fernando Chico Pardo's $2.3 billion bid to acquire a 25% stake in Citigroup's Banamex. The approval process is in its final stages, according to Bloomberg. Citigroup has not commented on the matter. The information is based on market chatter and may include speculation.

Market Chatter: Mexican Authorities Close to Approving Billionaire's Bid For 25% Stake in Citigroup's Banamex