Mexican tycoon Salinas Pliego drops out of Citibanamex bid

MEXICO CITY – Mexican tycoon Ricardo Salinas Pliego said on Wednesday he had decided not to continue with a bid for Citi’s Mexico unit, put up for sale earlier this year.

“I was thinking about buying Banamex and decided NO,” Salinas said on Twitter. “I prefer to INVEST IN MY CUSTOMERS of Banco Azteca and compete with (and beat) whoever buys that problem,” he said.

(Reporting by Kylie Madry; Editing by Muralikumar Anantharaman)