First Choice confirms talks to sell package holiday business |
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Published
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Mon, 27 Nov 2006 14:05
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LONDON - First Choice Holidays confirmed on Monday that it was talking to many companies over the possible sale of its package holiday business. The announcement was made on the heels of several newspaper reports over the weekend that First Choice was looking for buyers.
The Sunday Times had reported that MyTravel was talking to First Choice and that Thomas Cook was also interested in First Choice's package holiday business. The report said that any deal could be worth in the region of £500 million.
"Following recent press speculation regarding its Mainstream business, the board of First Choice Holidays plc confirms that it has been reviewing how it might continue to maximize the potential of this market-leading tour operating business," the board of directors of First Choice said in a statement today. "It is considering a range of alternatives in this market and discussions with a number of parties are at a preliminary stage."
However the statement said that there was no guarantee that any transaction would take place following these talks. It also said that any potential sale would need to be vetted by regulatory authorities.
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