Indian outsourcing firms Wipro Technologies and Copal Partners have expressed interest to bid for the Indian back-office unit of collapsed Lehman Brothers, the Business Standard said in an unsourced report.
The US investment bank, which filed for bankruptcy protection on Monday, has asked its 1,200 employees in a Mumbai unit, which does equity research and analytics support for its mergers and acquisitions business, to leave by the end of September, the newspaper, said on Wednesday.
Wipro Technologies is the software services business arm of Wipro Ltd, India's third-largest outsourcing firm. Copal Partners is a back-office financial research firm and counts Citigroup, Deutsche Bank and Merrill Lynch as its investors.
Citing unidentified investment banking sources, the paper said Wipro and Copal had been looking at opportunities in financial business process outsourcing and the Lehman unit was a target.
No comments:
Post a Comment