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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
TUI Travel
were in demand Monday morning on speculation that German holding company TUI might launch a full takeover of the company.
Over the week-end TUI AG sold a two-thirds stake in its Hapag-Lloyd shipping unit for about €2.45bn.
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."
One such possibility is taking total ownership of TUI Travel, Europe's largest holiday company.
At present, TUI AG owns 51% of TUI Travel, the company that was formed by a merger of Thomson Holidays and First Choice Holidays. .
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