Morgan Stanley denies report India BPO up for sale

Enlarge Photo The Morgan Stanley headquarters is seen in New York January 30, 2008. REUTERS/Shannon Stapleton/Files

Sat, Feb 9 02:53 PM

U.S. investment bank Morgan Stanley denied a newspaper report on Saturday which said it was putting its Indian business process outsourcing (BPO) operation, Morgan Stanley Advantage Services Pvt Ltd (MSAS), up for sale.

Indian daily Mint, citing people close to the company, said in a front-page report that a sale of MSAS was "on the cards", although Morgan Stanley had yet to start talks with potential bidders or appoint an external adviser.

A statement from Morgan Stanley's press agency said the report was incorrect.

"Morgan Stanley has no plans to sell and confirms that it remains fully committed to Morgan Stanley Advantage Services which is a successful and important component to its business globally," a spokesman said in the statement.

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