A Citigroup executive said: "If it makes sense to sell additional shares, we will do so and when market conditions are right, we will be ready to capitalize on it." Following the Banamex acquisition, Jane Fraser met with Sheinbaum. At the end of last year, Banamex finalized the deal that made Chico Pardo a 25% shareholder of the Mexican bank again. After the closing of the acquisition of 25% of Banamex by Mexican businessman Fernando Chico Pardo at the end of 2025, the expected IPO on the Mexican Stock Exchange (BMV) is uncertain. Nevertheless, Citigroup continues to advance in its plan to divest from the Mexican bank. During a conference with investors on Wednesday, Chief Financial Officer Mark Mason kept a possible date for the IPO on hold but revealed that they are "actively" looking to sell additional stakes smaller than the ones closed with Chico Pardo last December. "I will not give a specific timeline for the Banamex IPO, we will continue to progress in being ready for it. On the way to this operation, Germán Larrea also made an offer that was declined by the financial institution. Regarding the deal also made with the owner of ASUR, Mason stated that it was "a test of the support he has as a business leader in Mexico from the president of the country."
