Mexico's government agreed to sell its 62% stake in AeroMexico to a group of investors led by Banamex, the Mexican arm of Citigroup, for MXN2.7 billion ($249 million) following an intensifying bidding war. Banamex prevailed over the Saba family, whose final bid of about MXN2.72 billion was rejected because it came in 2 min. past Wednesday's 5 p.m. deadline. Banamex's final bid arrived just before the deadline. "We lost," conceded Moises Saba Masri, who has been critical of the government's ...

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