(May 8 – 16:25 ET) – Bank of Montreal is continuing to study its options for its investment in Mexico’s Grupo Financiero Bancomer. “We are not committed to any course of action at this time,” said Tony Comper, chairman and chief executive officer, Bank of Montreal.

Bank of Montreal currently holds a 16.5% economic position and 20% voting position in Grupo Financiero Bancomer. In March of this year, Bancomer signed an agreement with Spain’s Grupo Banco Bilbao Vizcaya Argentaria to proceed with a merger and capitalization program. Last week, says BMO, Bancomer received an unsolicited merger and capitalization proposal from Mexico’s Grupo Financiero Banamex-Accival.
-IE Staff