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Article: TSYS(R) Signs Letter of Intent with The Royal Bank of Scotland Group.
- Article from:
- PR Newswire
- Article date:
- May 31, 2000
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COLUMBUS, Ga., May 31 /PRNewswire/ --
Total System Services, Inc.(R) (TSYS(R)) (NYSE: TSS) today announced the signing of a letter of intent with The Royal Bank of Scotland Group plc ("Royal Bank Group"), to complete a definitive agreement for the processing of its 7 million consumer and commercial card accounts over a 10-year period. Earlier this year while TSYS was independently in negotiations with National Westminster Bank Plc (NatWest) and The Royal Bank of Scotland, The Royal Bank of Scotland acquired NatWest. Since the acquisition, TSYS continued negotiations with the combined entity.
The Royal Bank Group is the second-largest credit card issuer ...