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Travelzest offer falls through
Uncertainties in the financial markets have been blamed for the end of talks between Travelzest and a potential investor.
The online travel company said that the offer, expected to be made in December, has been terminated.
In a statement today, Travelzest said it continues to trade in line with management expectations.
Travelmole has been unable to contact chief executive Chris Mottershead in person.
Last week, he told Travelmole that the cash offer for the entire issued and to be issued share capital of Travelzest was at a price of £1.15 per ordinary share.
He said due diligence was almost completed and he was confident the deal was on track for December.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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