Citigroup Sees ‘Significant Interest’ as Mexico Sale Talks Kick Off

Citigroup Inc. has begun the sales process for its consumer, small-business and middle-market banking divisions in Mexico, though an initial public offering remains on the table.

The Citibanamex unit “is attracting a lot of attention,” and the company has begun fielding interest from buyers in preliminary sales talks, Chief Executive Officer Jane Fraser said Thursday on a conference call with analysts. No deal is imminent, however, as Citigroup still needs to carve out the institutional businesses it hopes to keep, according to the CEO.