UBS sells its 50% stake in Swisscard to American Express [Globe and Mail, The (Toronto, Canada)]
American Express Company (AXP)
Last american express company earnings: 4/24 07:00 am
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US:NYSE Investor Relations:
ir.americanexpress.com
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Source: Globe and Mail, The
UBS will sell its 50 per cent holding in the company to its joint venture partner American Express AXP-N decrease , Swisscard said in a statement. Terms of the deal were not disclosed. After the deal, Amex will become the sole owner of Swisscard, with Credit Suisse customers transferring to the existing UBS credit card platform. Swisscard said it would continue to issue all other cards it issues under the American Express, Mastercard and Visa licenses and will continue to operate the American Express business in Switzerland. There is no near-term impact on any of these cardholders, merchants or partners, the company said. Following its emergency takeover last year, UBS is now divesting parts of the Credit Suisse business. In June it sold a stake in Credit Suisse Securities (China), and in July it agreed to sell a former insurance-linked investment arm of the bank to its management. UBS on Monday said it was fully committed to its credit card business, but issuing credit
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AXP
Earnings
- 10/18/24 - Beat
AXP
Sec Filings
- 11/12/24 - Form 4
- 11/8/24 - Form 4
- 11/7/24 - Form 144
- AXP's page on the SEC website