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TUI Travel rises on bid hopes
Thu, 04 Dec, 2008
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TUI Travel rises on bid hopes
Mon, 13 Oct 2008, 09:33:00
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Related Market Prices
Name
Value
Percent
Change
TUI Travel
205.50p
-0.48%
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Shares in London-listed <b>TUI Travel</b> were in demand Monday morning on speculation that German holding company TUI might launch a full takeover of the company.<br /><br />Over the week-end TUI AG sold a two-thirds stake in its Hapag-Lloyd shipping unit for about €2.45bn.<br /><br />The German company said that the sale gave it strong liquidity and a solid financial position, "opening up investment possibilities for the further expansion of TUI's tourism possibilities."<br /><br />One such possibility is taking total ownership of TUI Travel, Europe's largest holiday company. <br /><br />At present, TUI AG owns 51% of TUI Travel, the company that was formed by a merger of Thomson Holidays and First Choice Holidays. .<br />
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