TCS sells Sitel India stake for .73 mln

New Delhi, Mar 28: Tata Consultancy Services Ltd (TCS), Tata group's software arm, today said it has entered into an agreement with Sitel to transfer the ownership of its 40 per cent stake in Sitel India to US-based Sitel Corporation for 17.73 million dollars.

Tata International Ltd, which holds a 10 per cent stake in the JV, has also agreed to sell its stake.

Sitel India is a joint venture between the Tata Group and Sitel Corp, formed in 2000, with both parties holding 50 per cent of the equity, a company statment said.

The JV provides voice-based contact centre BPO service from India. With over 4,000 Professionals, it is a provider of fully integrated customer care and back office processing services operating from five centres located in Mumbai, Hyderabad, Chennai and Gurgaon.

UNI