Press Release: Mergers: Commission approves modified Alpha Card JV between American Express and Fortis

The European Commission cleared under the EC Merger Regulation the proposed transformation of the existing joint venture Alpha Card S.C.R.L./ C.V.B.A. into a full-function joint venture between American Express Company and Fortis Bank S.A. / N.V. of Belgium. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.