A key stake in Firstsource, one of India's leading business-process outsourcing companies, has been put up for sale – in a move that could trigger an ownership shake-up in the sector.
Metavante, a US-based banking technology group, has appointed Goldman Sachs to find a buyer for its 20 per cent holding in the Mumbai-listed company, India's third biggest BPO by revenues. First-round bids are expected this month.
Two other leading investors in Firstsource – India's ICICI Bank (27 per cent) and Singapore's Temasek (21 per cent) – are watching developments, said executives familiar with the situation, and they could join Metavante in selling up if the offer price is high enough.
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