Citi may sell Indian BPO to IBM
Close informal sources confirm that discussions are on between Citigroup and IBM for taking over of the Citigroup BPO operations in India. Over the last few years IBM has been aggressively expanding its India operations and this fits into overall IBM plans. From Citigroup perspective, it is in dire need of capital for which it is forced to sell all non banking core activities wherever possible. So it looks like a win-win game.