UK: C&N TOURISTIC SET TO IMPROVE THOMSON BID
Article Abstract:
C&N Touristic is understood to be poised to submit an offer for Thomson Travel which values the UK-based business at GB[pound] 1,55bn-GB[pound] 1.6bn. The German holiday company, which is 50% held by Lufthansa, is planning a GB[pound] 1.55 per share offer at least, with an official bid expected on 15 May 2000. However, Thomson's institutional shareholders say that a GB[pound] 1.60 bid was more likely to be accepted than a GB[pound] 1.55 bid.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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UK: CONCERN AT OUTLOOK FOR HOLIDAY FIRMS
Article Abstract:
UK holiday companies including First Choice, Airtours and Thomson Travel are being adversely impacted by the increase in aircraft fuel prices, which in the past year alone have risen to US$ 250 from US$ 130 per metric tonne. Experts note that firms are unable to offset the price rise, with the competitive UK travel arena making it hard for customers to bear the brunt of the increase. It will be several months before the full effect of fuel price growth is felt, due to the fact that firms normally try to guard against price volatility beforehand.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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Holiday mergers book into Europe
Article Abstract:
A new company based in the UK, Kuoni Holdings plc, will be created as a result of the 1.4 billion pounds sterling merger of First Choice and Kuoni Reisen. This deal links a UK high-volume tour operator with an international travel group with sales operations in many countries, and is therefore unlikely to be opposed by competition regulators in the UK or Europe. The merged operation will have 7 million customers in 20 countries.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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