Banorte confirms interest in Banamex and its shares rebound more than 8%

Banorte confirms interest in Banamex and its shares rebound more than 8%

“We have already begun to have contact. (Citibanamex) begins to open its accounting, it takes months to process. We have nothing, all the interested parties are signing the agreements to enter the data room and see the information,” said Marcos Ramírez, general director of Grupo Financiero Banorte.

Banorte shares jumped more than 8%, hitting a two-week high, after the company also posted better-than-expected earnings and its executives said in a call with analysts that they are seeking regulatory approval to launch a digital bank. .

Industry experts have said they expect several banks to be interested in participating in the offer. The shares closed at a price of 147.31 pesos per paper.

Regarding the proposal they made last March, to invite Mexicans to help buy a piece of Banamex, Ramírez said that it was an invitation for people to buy Banorte shares so that later they can buy Banamex.

“If a Mexican wants to buy Banorte shares, it is totally allowed, they can go to any brokerage house and open a contract to do so. What we are doing is an invitation for them to join in buying Banorte shares. We believe it is a good bank and has a life of its own, regardless of whether they buy other assets,” said Marcos Ramírez.

With information from Reuters

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