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India: Authorities approve American Express joint venture

 |  June 18, 2014

The Competition Commission of India has announced its approval for a proposed joint venture between credit card conglomerate American Express and a unit of Qatar Holding, a deal aimed at providing global business travel services, according to reports.

American Express will partner with Juweel Investors and transfer its travel services operations to the joint venture, to be known as GBT III BV, which will use American Express’s marketing services. The operation has a presence in India, leading the CCI to review the deal.

In its approval, the regulator noted that Qatar does not have investment in competing global business travel services companies in India.

The companies first established the partnership last March.

Full content: NDTV Profit

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