Reuters: Private Equity: UPDATE 1-Sify Technologies to sell MF Global India stake

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Sify Technologies to sell MF Global India stake Mar 27th 2012, 17:31 March 27 | Tue Mar 27, 2012 1:31pm EDT March 27 (Reuters) - Indian Internet and media company Sify Technologies Ltd said it would sell its entire stake in MF Global's India unit in an all cash deal. As per the agreement, MF Global Overseas and Singapore-based PhillipCapital Group will buy a majority stake in MF Global Sify Securities India. Financial details of the deal were not disclosed. MF Global Sify Securities is 70 percent held by the now bankrupt U.S. futures broker MF Global. MF Global went bankrupt on Oct. 31, after the New York-based company placed disastrous bets on European sovereign debt. ADRs of Sify Technologies were trading up 7 percent in afternoon trade on Tuesday on the Nasdaq.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions