In Brief: Spanish Thrift to Sell American Express Cards

American Express Co. said Caixa D'Estalvis i Pensions de Barcelona, Spain's leading savings bank, agreed to sell American Express cards throughout its network of 3,000 branches.

The arrangement is American Express' fifth such deal in Europe. Unlike deals in previous contracts, American Express would provide customer and merchant-acquiring services for "La Caixa," which will issue American Express cards.

La Caixa, a Visa member, "is of enormous importance for the consolidation of American Express in Spain and Europe, and in line with the company strategy of increasing ties with important financial institutions," said Jurgen Aumuller, president of American Express for Europe.

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