Citigroup to purchase Deutsche Bank license in Mexico for institutional unit

NEW YORK, Nov 8 (Reuters) – Citigroup Inc (C.N) said on Tuesday it would purchase Deutsche Bank’s Mexican license in order to continue its corporate and investment banking operation in the country, following the planned sale of its local retail unit.Financial details were not disclosed.”The acquisition of this license, which is subject to the receipt of all regulatory approvals, facilitates the pursuit of our consumer exit and ability to continue our institutional operations in Mexico,” Citi said in a statement to Reuters.Citi Chief Executive Jane Fraser announced the Mexican retail unit was up for sale at the …
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