By IANS
Mumbai : Global finance service provider Barclays Bank Pcl. and top Indian housing finance company Housing Development Finance Corp Ltd. (HDFC) Monday announced that they have agreed to sell their entire shareholding in Internet Global Service Pvt Ltd. (Intelenet) to SKR BPO Service Ltd.
SKR, an India-based business process outsourcing (BPO) operation, is jointly owned by Intelenet and Mauritius-based Blackstone GVP Capital Partners Mauritius V-B Ltd, the companies said.
Intelenet, a 50-50 joint venture between the UK-based Barclays and HDFC, presently provides BPO services to a variety of local and international customers with a gross asset of $107 million.
Barclays' global operations principal, David Skillen said, "Intelenet, would however, continue to provide certain outsourcing services to Barclays currently offshored to India. Intelenet has also agreed to assist Barclays to establish a wholly owned BPO operations in India which will serve Barclays offshoring requirements."
"We look forward to working with them to establish our BPO operation in India and in the continued provision of services to Barclays."