|
|
|
|
|
| |
Monday
Jun 11 2001
| Updated
1506 hrs IST
0436 EST
|
Morgan Stanley considering merger with American Express
NEW YORK
US investment bank Morgan Stanley has approached American Express to discuss a possible merger, the weekly Barron's reported on Sunday.
Talks on the proposal have continued on and off for a year but so far have produced no breakthrough, the report said.
But the very prospect of the merger is believed to be behind the resignation early this year of Morgan Stanley chief executive John Mack, who did not like the idea of having to report to Kenneth Chenault of Americans Express, according to Barron's.
Morgan Stanley is said to be attracted by the $230 billion managed by American Express and the company's credit card business. (AFP)
|
|
|
|
|
