TUI in possible acquisition deal with Travelzest
Speculation is growing that TUI Travel may complete a £28 million acquisition of Travelzest today.
Although neither party would comment on the rumours, travel group Travelzest last month confirmed that it was in the early stages of discussions over a potential cash offer of £1.15 per share for the entire issued share portfolio or for any future shares issued.
One industry analyst said TUI would be most interested in Travelzest’s two Canadian businesses luxury cruise specialist Cruise Professionals and online travel agency itravel2000 as they would grant TUI an initial foothold in Canada where it currently has no dealings.
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