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CNG Travel says one of two potential bidders since CTH offer withdraws interest


Published : Thu, 14 Jun 2007 16:01
By : Agencies
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LONDON (Thomson Financial) - CNG Travel Group PLC said one of two unnamed potential bidders to have expressed interest in acquiring CNG has decided not to make an offer following its review. The unnamed two had made indicative proposals. An earlier offer by Corporate Travel Holdings Inc of 14.5 pence a share remains on the table.

CNG Travel said that the other unnamed bidder is still considering an offer, but there was no certainty this would be forthcoming, nor as to its terms.

Consequently, CNG's independent directors continue to recommend the CTH offer.

TFN.newsdesk@thomson.com

tsm/cm2

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