Indian IT giants try to board American Express?

BANGALORE, INDIA: Indian outsourcing giants are reported to have shown interest in buying the captive BPO unit of American Express.

According to a CNBC-TV 18's report, companies like Wipro, Genpact and IBM Daksh are showing interest in buying a part of the BPO unit of American Express, which is valued at Rs 1,500 crore. The BPO unit deals with the travel services of American Express and employs about 500 people.

However, Genpact declined to comment on the matter.

It is also said that the small buyout might be followed by the entire unit of American Express BPO arm that would be valued at about Rs 3,500 crore. The interested companies are seeking the opportunity to buy the entire arm, but are waiting for the market valuation to come down till they make the final purchase.