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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: yard_man who wrote (11779)	4/12/2004 12:33:41 PM
From: mishedlo	of 110194

Citigroup spending $122 mln for call center in India (C) By Steve Gelsi NEW YORK (CBS.MW) -- Citigroup (C) said it'll pay about $122 million for the portion of a call center in India that it doesn't already own, the Associated Press reported on Monday. The center handles outsourcing contracts from Citibank, the retail banking unit of the financial conglomerate. Citigroup will own all of E-Serve International Ltd., up from a 44 percent stake. The acquisition will provide "increased operational flexibility," Citigroup said without elaborating. The deal comes a week after IBM Corp. announced a $150 million acquisition plan for Daksh eServices, one of India's leading call center firms. Shares of Citigruop added 47 cents to $52 in recent trades.

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