Private Equity Steps Out Of The Shadows In Japan

The imminent sale of the Tokyo-based Bellsystem24 Inc. call centre, a unit of international financial conglomerate Citigroup, has attracted a high volume of interest in the first round of a private auction that may prove to be the largest foreign private equity investment in Japan for nearly three years. The interest in the auction of the subsidiary falls nicely in line with CFW's forecast that telecoms would be a hot sector for M&A activity in Q309.

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