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ICBC in cooperation with Travelex

(China Daily)
Updated: 2007-05-09 10:10

The Industrial and Commercial Bank of China (ICBC), reported by the South China Morning Post to be in talks to buy airport currency exchange operator Travelex, said yesterday that it is in discussions to cooperate with the firm but is not looking to buy it.

"The bank is in discussions with Travelex about potential business cooperation. These discussions do not involve the bank taking over Travelex or acquiring any interests in Travelex," Pan Gongsheng, secretary to the board of directors of ICBC, said in an emailed statement to Reuters.