Dow Jones Newswires: Santander withdraws bidding for Citi’s Banamex

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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, -0.08% 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.

Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com

This article was originally published by Marketwatch.com. Read the original article here.

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