(Reuters) – Citigroup Inc is weighing a deal to buy Deutsche Bank AG’s Mexican bank, Bloomberg Law reported on Tuesday, citing people familiar with the matter. Citi is planning to set up a new local unit in the country, and the deal will help it sidestep a lengthier approval process for a new license, according to the report. Talks are in early stages and may not result in a deal, the report added. Any sale would require regulatory approval and Deutsche Bank would keep the brokerage it relaunched in the country earlier this year, Bloomberg Law reported. “Citi has operated in Mexico for more th…