According to media reports, the sale of the company’s business process outsourcing unit (BPO), Citigroup Global Services was stopped as the company is still reviewing its operations, which were badly hit by the crisis in the credit market.
The company’s plan to sell its India unit came to light in July 2007, when it was reported that Citigroup had already found three bidders in Genpact, Firstsource and WNS.
According to Finextra, the company was going to make a $700 million deal with Genpact, but it had to be called off due to a dwindling stock market.
