According to The Economic Times, Citigroup Venture Capital (CVC) has also entered the race to acquire Citigroup’s BPO arm, Citigroup Global Services.

ET, quoting sources say that Genpact, WNS Holdings and CVC are the final three players who are interested in this transaction. The report adds that while Genpact is the frontrunner, CVC may also have an advantage being part of the Citigroup family.

The current valuation of the deal is expected to be in the region of $ 600 million. The BPO arm is expected to report revenues of $ 200 million this year.

Another potential bidder, Firstsource Solutions is learnt to have moved out of the race, having already acquired the US-based MedAssist for $ 300 million recently.