Fidelity Scraps Plans to Sell India Back-Office Unit

After shopping its back-office support division in India since last year, which is based in Bangalore and Chennai and employs 5,000, Fidelity has decided to scrap the sale, Reuters reports.

“I can confirm that after an intense review and thorough evaluation, it was decided that we will maintain the FMR India IT organization at this time,” said Garima Varma, head of corporate communications for the unit.

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