Cendant Nears Deal to Buy Orbitz Travel Site
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The deal would end a daring experiment by the nation's airlines, which created Orbitz as a competitor to Expedia and online ticketing sites like it.
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By nabbing Orbitz in a pricey deal, Henry Silverman&#39;s outfit will now go head-to-head against InterActiveCorp in online travel.
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Online travel agency ebookers succumbed to a Â£209m bid from American travel and real estate group Cendant yesterday in a move which will see founder, chairman and chief executive Dinesh Dhamija pocket more than Â£92m.
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Multiple firms including Silver Lake Partners and Texas Pacific Group have bid for Sabre Holdings , owner of the Travelocity Web site, according to a source familiar with the situation.
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Travel and real estate heavyweight Cendant Corp.  is nearing a deal to buy online travel site Orbitz Inc. , which is controlled by the top five U.S. airlines, for about &#36;1.2 billion in cash, a source close to the talks said on Tuesday.
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Cendant Corp., the world&#39;s largest hotel franchiser, agreed to buy Internet travel agency Orbitz Inc. for $1.25 billion to sell more travel packages online.
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Cendant Corp., owner of Arapahoe County&#39;s CheapTickets.com and many other travel properties, is close to a deal to buy Internet travel agency Orbitz Inc.
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Aiming to put itself in the vanguard of the Internet travel business, America Online will invest an undisclosed amount in an upstart that threatens to lure customers away from the industry's most dominant players, such as Orbitz, Expedia and Travelocity.
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Technology markets rallied Wednesday. They were boosted by soaring Internet stocks on news that Cendant plans to buy Orbitz and by investors looking for general bargains in the recently battered sector.
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Switzerland's top telecommunications operator Swisscom said it was interested in a majority stake in the Czech Republic's Cesky Telecom, which is due to be privatised.
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Travel and hospitality company Cendant Corp. today announced plans to acquire online travel vendor Orbitz.com for approximately $1.25 billion.
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Dinesh Dhamija, ebookers&#39; chief executive and founder who is stepping down as a result of the acquisition of the internet travel site by Cendant of the US, will receive Â£5m
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Cendant, the world&#39;s largest travel group, yesterday continued its buying spree with the $1.1bn (Â£570m) purchase of Gullivers Travel Associates and Octopus.
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Source says travel and real estate giant is close to reaching agreement to acquire travel Web site. PHILADELPHIA  - Travel and real estate company Cendant Corp.
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Two private equity firms will buy Sabre Holdings Corp. , owner of the Travelocity hotel and flight-booking Web site, for $4.45 billion as they look to profit from a boom in travel services.
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Amid Cendant&#39;s (Quote, Chart) $1.2 billion Orbitz (Quote, Chart) buy, new entrants are rushing to the intersection of the online industry&#39;s hottest sectors: travel booking and search.
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Cendant (CD:NYSE) sewed up a $1.25 billion acquisition of online travel giant Orbitz (ORBZ:Nasdaq), igniting another surge in shares of the airline-owned travel site.