Grupo Mexico and German Larrea Compete for Citi's Banamex Acquisition

Grupo Mexico has made a new offer to acquire Citi's Banamex, while mining tycoon German Larrea has submitted a competing bid. This competition could significantly impact the banking sector in Mexico, potentially reshaping financial services and influencing Citigroup's plans for Banamex. The outcome of these bids highlights the strategic importance of Banamex in the region.