ICICI considers spinning off ATM and POS networks - report

ICICI considers spinning off ATM and POS networks - report

India's ICICI Bank is reportedly looking into spinning off its network of ATMs and payment terminals to a separate company and has sounded out technology vendors about joining the new entity.

According to the Economic Times, Visa, Total System Services and First Data are among those to have expressed interest in participating in the new business, managing ICICI's network of 4000 cash machines and 200,000 POS terminals.

Other interested parties include Venture Infotek, a JV between Blackstone and CMS Computers, and several private equity investors, says the report.

An ICICI spokesman told the Wall Street Journal that no decision has been made yet on the future of the businesses but they could be candidates for transfer to other firms.

Hiving them off was unlikely to materially affect the ICICI's finances, he added.

ICICI may spin off ATMs, sales points - The Economic Times

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