Citigroup and Lehman Bros., seeking a 26% stake in India's IFCI, reportedly are the front-runners for the long-term lender. "Offers made by Citi and Lehman are more attractive than others. A decision over the stake sale is expected by the month-end," said an unnamed investment banker in the Hindustan Times. According to the newspaper, Barclays and other banks also were in play for the stake.

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