By Aleksandrs Rozens, Reuters
American Express Co. said on Tuesday it would consider acquisitions to speed up growth of the credit card company’s businesses and warned that the spin-off of its financial advisory business would be costly.
“Acquisitions represent a potential avenue of growth to pursue only opportunities that accelerate growth at corresponding businesses,” American Express Chief Executive Kenneth Chenault said, without saying what kind of businesses were targeted.
He was speaking at an investors conference sponsored by UBS Securities LLC that Reuters monitored over an Internet broadcast.
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