Financial Times FT.com

Citigroup might lose Mexican subsidiary

By Adam Thomson in Mexico City

Published: October 19 2009 03:00 | Last updated: October 19 2009 03:00

Mexico's Supreme Court is this week set to probe a case that could force Citigroup, the troubled US bank, to sell Banamex, its highly prized Mexican subsidiary.

A group of opposition senators has pointed out that the US government bail-out of Citi last year placed Banamex in breach of national law, which bans foreign governments from owning stakes in domestic banks.

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