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Mexican Billionaire Salinas Says No to Buying Citibanamex

Ricardo Salinas

Ricardo Salinas

Photographer: Susana Gonzalez/Bloomberg

Mexican billionaire Ricardo Salinas said in a tweet he was thinking about buying Citigroup Inc.’s Mexican retail business known as Citibanamex and decided not to.

“It takes too much time and investment, and then you have to fix its operation and invest in technology,” Salinas said, adding he’d prefer to invest in his Banco Azteca and compete with whoever buys the bank.