Monday, February 26, 2007

Lastminute sale a real possibility

International readers will be confused by the headline for today's post as most will assume that the sale of Lastminute.com to Sabre/Travelocity was old news (2005). However in Australia the Lastminute "franchise" is operated under a joint venture with local player Travel.com.au being the majority shareholder. Travelweekly is reporting comments from Travel.com.au CEO Adam Johnson that he is considering selling the business back to Sabre/Travelocity by exercising a right under the joint venture triggered by Sabre's recent privatisation. The key part of the comments from Adam is that this is not a done deal but merely a right possessed by Travel.com.au. Am looking forward to watching this unfold.

1 comment:

Adam Vance said...

The market seemed excited - TVL shares up 14% to 40.5. However $60mil is a very high figure. It should come close to $25mil if they sold.