Swiss banking giant UBS could follow the lead of Citigroup and look to sell some or all of the outsourcing assets it has built up in India.
According to media reports in the country, the financial services company has put up for sale various business process and knowledge process outsourcing operations that are based in Hyderabad.
It appears it may also want to divest a BPO outsourcing unit it has based in Krakow, Poland.
Together, it is said the 2,350 strong operations could fetch anything around $200 million, and according to unconfirmed sources Wipro is seen as a likely purchaser. UBS has said it “remains committed to all its activities in India.”
In January, Citi completed the sale of Citi Technology Services, the India-based captive provider of IT services to Citigroup entities worldwide, to Wipro Technologies, for an all cash consideration of $127 million.
As part of that transaction, Wipro and Citi signed a master services agreement over the delivery of technology infrastructure services and application development and maintenance services for a period of six years.
Currently, Wipro also supplies UBS with application and maintenance services.
