Report: Citi Restructuring India Ops, Eyeing Sale

Friday, 27 Jun 2008 08:43 AM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Citigroup is believed to be restructuring its India backoffice operations, valued at around $1 billion, and may sell or outsource most of these assets, the Economic Times said on Friday.

The BPO, Citigroup Global Services, and the technology and infrastructure outsourcing arm, Citos, "are on the block" and Citi "could be close to finalizing the deal" with IBM , the lead contender", the newspaper said, citing unnamed sources.

Capgemini and a large Indian IT services firm, reported to be Tata Consultancy Services are the other two contenders, the paper said.

A spokesman for Citi said they would not comment on speculation. A spokeswoman for TCS declined comment, calling the report speculative.

In May, the newspaper had reported Citi had plans to exit its consumer finance business in India, news that the company later denied, saying it was only repositioning the products.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved