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Saturday, May 04, 2002

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KPMG abandons talks with Andersen

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KPMG, a leading professional services firm, on Friday announced that the discussions for combining Andersen's operation in India have been abandoned.

A statement issued by KPMG said that a decision has now been taken against a ``comprehensive combination of Andersen and KPMG in India'' even though the discussions between the two firms had proceeded on a constructive basis with mutual understanding of and respect for each other's position.

The discussions have been complex, particularly with regard to ensuring that the KPMG brand and reputation are safeguarded against any risk and are fully protected against any litigation or contingent liabilities, the statement added.

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