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OTC takeover talks off – for now
Online Travel Corporation (OTC) chief executive Mark Jones (left) has told TravelMole that while its talks with a third party about a possible takeover are now off, they could be resurrected.
When asked if the talks could be renewed, Mr Jones – who declined to comment on speculation that the talks were with Lastminute.com – told TravelMole: “You can never say never”.
He said that OTC had been obliged to make a statement about the fact that talks were going on because of press speculation. He added: “The sector is consolidating, we have made four acquisitions ourselves over the last 12 months.”
OTC announced that bid talks had collapsed yesterday, just one day after the company confirmed that it was in negotiations with a third party about a possible takeover.
See our previous stories:
04-Jul-2002: Lastminute to buy OTC?
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
See previous TravelMole Interviews:
11 Jun 2002: The TravelMole Interview: Mark Jones, Online Travel Corporation
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