According to media reports, the company said that it could be selling either a part or all of its Indian division. It has already appointed financial services company Morgan Stanley to find a buyer. Many local and foreign firms have come forward and expressed their interest in buying the unit including Reliance Capital and Indiabulls.
According to Reuters, a GE Money spokesperson said: GE Money remains committed to India as a market for growth and investment. Driving strategic partnerships and JVs are a key strategic pillar of growth for GE Money, and in line with this objective we will be seeking a strategic partner.
