Gullivers links up with American Express

Gullivers Travel Group said today it was expanding its corporate travel business, prompting its shares to rise to a record.

It said it had agreed with American Express to merge the US credit card company's business travel unit with Atlantic & Pacific Business Travel -- the corporate travel division of Gullivers. The merged unit will trade as Atlantic Pacific American Express.

American Express said it had a strategy to set up partnerships with strong local partners.

Gullivers' share price was up 1c to a record $1.80 today. The shares, issued at $1.60, listed in December 2004.

- NZPA