Wipro may buy Citi unit.
Global Banking News - 24 December 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
According to Reuters, India-based Wipro Ltd (WIPR.BO), considered to be India's third-ranked outsourcer, has announced that it has agreed to buy Citi Technology Services Ltd, a unit of Citigroup, Inc (NYSE: C).
The deal has been fixed at USD127m in cash, and both companies are to sign a six-year service agreement worth at least USD500m.
The deal is to close on March 2009.
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|Publication:||Global Banking News (GBN)|
|Date:||Dec 24, 2008|
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