SFN Mexico's Third largest bank shares on sale.
SFN Grupo Financiero Serfin. Honk Kong bank (who owns Marine Midaland in the USA) own 20%+ of Serfin. There is legislation pending in Mexico that would allow foreign banks to buy 100% stakes in the largest three banks in Mexico. Banamex, Bancomer and Serfin.
Mexico fourth largest bank Confia is being acquired already by Citibank.
At the current price of $ 1. SFN is trading at a 52 week low. This stocks likes to move between low $1 and $ 2+. It has done this a few times since I started to follow it last year.
Today price of $ 1 has been caused by Asia and Brazil markets and has nothing to do with Serfin.
Here is the chart for Serfin:
quote.yahoo.com
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