China: Bargain hunting, but no bail-outs?

Saturday, November 22, 2008

As I blissfully enjoyed the delicious demise of Citibank I speculated that it would be wonderful if China and India were to buy up the pieces:  India Stocks: Continue Managing Risk

Now we have the following headline:  China goes bargain hunting for AIG unit

So perhaps it is not so far-fetched after all...Citi market cap is$30 billion including the $25 billion in capital put in by the Federal Government.   So basically it is free..the buyer has to assume the liabilities though...and 300K employees...yikes!!

If Citi is parceled off in pieces then is TCS in trouble?  They paid $505 million for the BPO  arm on the basis that at least 10 years work would come to BPO from Citi...No Citi, No work?   What happens to TCS?

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