'Citi' ungroups

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citigroup: divestment

The global downturn seems to be finally taking a toll on the Financial services major Citigroup. The company, itself formed with a huge merger, is now selling off its units. It is likely to sell its subsidiary, the bank’s captive technology and infrastructure outsourcing arm, Citi Technology Services (CTS). The players in the foray for clinching the deal are IBM, Wipro, TCS, and Infosys. Wipro is expected to be the likely winner. Citigroup earlier sold off its BPO – Citigroup Global Services (CGSL) to TCS for around $505 million in October 2008.


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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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