REUTERS - Internet and media company Sify Technologies Ltd
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 October 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.
(Reporting by Monika Shinghal in Bangalore; Editing by Supriya Kurane)