Tuesday, June 19, 2007

Amex sale of private bank "in final stages"-source

(Reuters) - ZURICH, June 19 - American Express Co is now in the final stages of negotiating the sale of its private and transaction banking units to another bank, a source familiar with the situation told Reuters.



The source did not know who would get the businesses but said of the several potentially succesful bidders it was most likely to be a large global financial institution, although a medium-sized buyer could also clinch the deal.


Read more at Reuters.com Mergers News

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