The Spanish bank said it had submitted a non-binding offer for the unit, but it won't be continuing in the next stages of the process, Santander said in a statement.
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Banco Santander SA said Friday that it won’t continue the bidding process for Citigroup Inc.’s C, +0.27% Banamex unit in Mexico.
The Spanish bank SAN, -0.35% SAN, +1.64% said it had submitted a non-binding offer for the unit, but it won’t be continuing in the next stages of the process, Santander said in a statement.
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