Otto Group Sells Stake in Travelocity Europe
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Munich-based catalog retailer Otto Group sold a stake in its European online travel operations to U.S. business partner Travelocity for 26.6 million euros (&#36;32.8 million), the companies said on Monday.
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Sabre Holdings Corp. TSG.N, owner of  the Travelocity Web site, on Thursday said it agreed to buy  privately held SynXis Corp., a provider of reservation  management services to hotels, for $40 million.
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Sabre Holdings Corp. , owner of the Travelocity Web site, on Thursday said it agreed to buy privately held SynXis Corp., a provider of reservation management services to hotels, for &#36;40 million.
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Shares of Orbitz rocketed 27 percent in after-hours action yesterday on word the online travel site was in talks to be purchased by Cendant for $26 to $28 per share, or more than $1 billion in cash.
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LONDON/DUESSELDORF, Germany  - German-owned Thomas Cook is to buy British package holiday rival MyTravel , the companies said on Monday, creating a travel company worth about 2.8 billion pounds ($5.5 billion).
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France was selling almost half its stake in Air France KLM on Thursday as part of a wider deal which could see its remaining stake cut to below 20% and give staff shares in return for pay cuts.
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Sabre Holdings Corp. , owner of the Travelocity Web site, on Tuesday said it has agreed to be sold to private equity firms Silver Lake Partners and Texas Pacific Group  for $32.75 per share in cash, or about $4.45 billion.
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Shares of Orbitz, an Internet travel agency, surged 26 percent on reports it may be purchased by Cendant for about $1.2 billion. Shares of Orbitz climbed $5.
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The Croatian Privatization Fund on behalf of the Government of Croatia has announced the sale of shares of Hoteli Zivogosce.
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MyTravel and Thomas Cook will combine in a deal to create a more cost-competitive European-based travel company, the companies said. The new company will retain the Thomas Cook name, one of the oldest established brands in the travel industry. KarstadtQuelle, the German retailer that owns Thomas Cook and a department store chain, will hold a 52 percent stake in the combined group. MyTravel, which is based in London, will hold the rest. The combined company, which will be based in London and listed on the London Stock Exchange, will be called the Thomas Cook Group.
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By Anonymous  Otto UK, owner of the Freemans and Grattan mail-order catalogues, is to review its media account, estimated to be worth 1m.  Otto's business is currently split between Media Vest Manchester and Pure Media, which handle Grattan and Freemans respectively.
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Cendant Corp., which owns Days Inn hotels and Avis Rent A Car Systems Inc., agreed to buy the UK&#39;s Gullivers Travel Associates and Octopus Travel Group Ltd.
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Sabre Holdings Corp. , owner of  Web site Travelocity, agreed Monday night to be sold to private  equity firms Silver Lake Partners and Texas Pacific Group   for about $4.3 billion, the New York Times reported on  its Web site on Tuesday, citing people involved in the  negotiations.
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British Airways Plc, Europe&#39;s second- biggest airline, is selling its A$1.1 billion ($763 million) stake in Qantas Airways Ltd.
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LONDON/DUESSELDORF, Germany  - German-owned Thomas Cook is to buy British package holiday rival MyTravel, the companies said on Monday, creating a travel giant worth about 2.8 billion pounds ($5.5 billion).
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CHICAGOâTravel and real estate heavyweight Cendant Corp. yesterday said it will buy travel website Orbitz Inc. for about $1.25 billion (US), making it the second-largest competitor in the online travel industry.
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German travel giant TUI said that the investment bank Morgan Stanley has sold almost all of its 10.1-percent stake in TUI.