Overview

• Fernando Chico Pardo recently acquired 25% of Banamex and, according to President Claudia Sheinbaum, intends to broaden public access to the bank’s art and cultural holdings.
• Sheinbaum said she spoke by videoconference with Citi’s CEO and Chico Pardo before the public announcement, with Finance Secretary Edgar Amador participating.
• The president instructed the Culture Ministry to contact Chico Pardo to organize a visit to the collection, signaling the start of coordination for potential public access.
• Citi stated it rejected an offer from Grupo México to buy up to 100% of Banamex on October 9.
• Citi reaffirmed confidence in the September 24 transaction involving the 25% stake sold to Chico Pardo, while no public timeline for opening the collection has been set.