Dec 5 (Reuters) - Tycoon German Larrea's conglomerate Grupo Mexico SAB is in advanced talks for Citigroup's Mexican retail banking unit, Banamex, Bloomberg News reported on Monday, citing people with knowledge of the matter.

Citigroup did not immediately respond to a Reuters request for comment. (Reporting by Manya Saini in Bengaluru; Editing by Sherry Jacob-Phillips)