India BPO Firstsource stake put on sale

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Hong Kong/Mumbai, Sep 8: Firstsource, one of India's leading business-process outsourcing companies, has put one of its stakes up for sale.

According to the Financial Times, Metavante, a US-based banking technology group, has appointed Goldman Sachs to find a buyer for its 20 per cent holding in the Mumbai-listed company. Two other leading investors in Firstsource - India's ICICI Bank (which has 27 per cent) and Singapore's Temasek (21 per cent) - are watching developments

Firstsource is India's third biggest BPO in terms of revenue and first-round bids are expected later this month. The company's market capitalisation is $424 million.


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