April 19, 2017 / 2:07 PM / a year ago

Mexico's antitrust regulator probes public debt intermediaries

MEXICO CITY, April 19 (Reuters) - Mexican competition regulator Cofece said on Wednesday that it was investigating possible antitrust practices in the auctions of public debt instruments issued by the federal government.

The regulator did not name any banks or financial institutions, which act as intermediaries in the auctions for the government when it issues Treasury bills, or Cetes, and other debt, according to a notice in Mexico’s official gazette.

“This commission had knowledge of situations that constitute signs of possible antitrust practices,” said Cofece.

Commercial banks, brokerage houses and mutual funds are the main participants in the primary auctions.

Mexico’s banking sector is led by the likes of BBVA Bancomer , Citigroup Inc’s Citibanamex, Grupo Financiero Banorte and Santander Mexico. (Reporting by Roberto Aguilar and Anthony Esposito; Editing by Chizu Nomiyama and Lisa Von Ahn)

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