DENVER, Jan. 15 /PRNewswire-FirstCall/ -- Western Union Financial
Services, Inc., a subsidiary of First Data Corp. (NYSE: FDC), announced today
that it has completed the purchase of a 25 percent equity interest in
Christopher C. Varvias & Associates S.A., its money transfer agent in Greece.
Terms of the transaction were not disclosed.
Based in Athens, Christopher C. Varvias & Associates has been Western
Union's agent in Greece since 1992. The company manages a network of more
than 540 locations in 80 cities throughout the country. The network includes
several significant banks in Greece: EFG Eurobank Ergasias, Bank of Cyprus,
and Aspis Bank.
"The market for money transfer in Greece has been growing rapidly since
the early 1990's, with Christopher C. Varvias & Associates leading the way,"
said Bill Thomas, president, Western Union International. "Roughly 10 percent
of the country's 10.8 million population are immigrants who are either sending
to or receiving funds from loved ones back home."
About Western Union and First Data
Western Union Financial Services, Inc., a subsidiary of First Data Corp.
(NYSE: FDC), is a worldwide leader in consumer money transfer services.
Consumers can quickly, safely and reliably transfer money at more than
117,000 Agent locations in more than 185 countries and territories. Famous
for its pioneering telegraph service, the original Western Union dates back to
1851 and introduced electronic money transfer service in 1871. Western Union
celebrated its 150th anniversary in 2001. For more information, please visit
the company's Web site at http://www.westernunion.com .
First Data Corp., with global headquarters in Denver, powers the global
economy. Serving approximately 2.6 million merchant locations, more than
1,400 card issuers and millions of consumers, First Data makes it easier,
faster and more secure for people and businesses to buy goods and services,
using virtually any form of payment: credit, debit, smart card, stored-value
card or check at the point-of-sale, over the Internet or by money transfer.
For more information, please visit the company's Web site at
http://www.firstdata.com .
SOURCE Western Union Financial Services, Inc.
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Related links:
http://www.westernunion.com
CONTACT:
Wendy Carver-Herbert of Western Union
Financial Services, Inc., +1-303-967-6416,
wendy.carver@firstdatacorp.com
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