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Laterooms.com to be sold to First Choice?
Monday, 22 Dec, 2006
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First Choice is tipped as being on the verge of acquiring online hotel booking site Laterooms.com for at least £100 million.
Reports this morning suggest the travel group is in exclusive talks to buy the web firm after its offer beat off rivals.
A sale could be announced in the next few days, the Daily Telegraph reported.
Manchester-based Laterooms.com was sold by founders Steve and Paul Walsh for £25 million to private equity firm ECI partners two years ago.
The possible acquisition by First Choice comes as the company considers the possible sale of its mainstream tour operating business for an estimated £500 million to either MyTravel or Thomas Cook.
Report by Phil Davies
Phil Davies
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