Accor is buying 65% stake in Frantour; shares surge
Article Abstract:
Accor SA is acquiring a 65% share of Frantour. The deal is part of Accor's plans to increase its nonbusiness travel operations. According to analysts, Accor will have to pay two billion French francs to 2.5 billion French francs ($343 million to $429 million) to acquire the travel group. Frantour manages approximately 30 hotels. The company also has a network of 86 travel agencies.
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Accor SA acquiring 65% share of Frantour
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Tour operators suffer as budget airlines soar
Article Abstract:
Major European tour operators such as Germany's TUI AG and Britain's First Choice Holiday PLC are losing business as customers go online to purchase low fare tickets from budget airlines and to arrange their own hotel bookings. TUI is trying to adapt its services to make them more flexible, but is also functioning under pressure of a possible takeover bid.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2004
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Czech travel mogul to sell stake to strategic partner
Article Abstract:
Vaclav Fischer, the Czech travel mogul and senator, will sell a minority share of Fischer Travel, his travel company, to a strategic partner and also retire from politics after his term ends next year. Preussag AG's TUI and Thomas Cook AG are two companies interested in the Fischer stake.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2001
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