News

Discover isn't going anywhere

September 5, 2005

The Green Sheet:Investment banking firm Morgan Stanley has decided not to sell Discover Financial Services. In April 2005, amidst much corporate turmoil, Morgan Stanley said it was shopping around the Discover unit. But with more growth opportunities - which resulted from a 2004 Supreme Court decision that opened the door for Discover to partner with financial institutions and the acquisition of the PULSE ATM/debit network in January, which includes more than 4,100 financial institution customers - Morgan Stanley is holding on to Discover.

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