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Lastminute to buy OTC?
Lastminute.com is being touted as the most likely candidate to buy Online Travel Corporation (OTC), which has confirmed it is in takeover talks with a third party.
OTC claims to be the UK’s largest online travel supplier and retailer, owning and powering websites with over 1.6m users a month. The company recently acquired online business travel specialist Travelstore.com for £2.1million, and its other sites include BargainHolidays.com and a2btravel.com. It also provides travel content and fulfilment services to almost 50 online companies including Virgin.net, Freeserve, Expedia, BTInternet and the Telegraph.
Lastminute has refused to comment on the OTC rumours, but has made no secret of the fact that it is looking at further takeovers following its recent acquisitions of direct sell tour operator and airline consolidator The Destinations Holdings Group (DGL) along with flights specialist Travelselect.com. The company still has plenty of cash in the bank following a highly successful flotation two years ago.
See previous TravelMole Interviews:
11 Jun 2002: The TravelMole Interview: Mark Jones, Online Travel Corporation
19 Mar 2002: The TravelMole Interview: Helen Baker, Lastminute.com
See our previous stories:
14 Jun 2002: Lastminute acquisition pleases City
10 Jun 2002: Lastminute takes 20% stake in German website
10-Jun-02: OTC snaps up Travelstore.com for £2.1million
15-May-02: OTC offers tailor-made holidays online
08 Apr 2002: Lastminute buys Travelselect for £9m
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