Flight centre hitches UK ride on Britannic.

Australasian Business Intelligence, March, 2003

Mar 07, 2003 (The West Australian - ABIX via COMTEX)

Australia's Flight Centre is paying $A122m for UK-based Britannic Travel. It is funding the purchase via an $A80m, one for 20 share entitlement offer. Investors, nervous about the profit potential for the travel industry if war breaks out, have sold down Flight Centre shares. The stock closed down $A1.30 at $A19 on 7 March 2003. Shaw Stockbroking's industrials analyst, David Cooper, says the $A58.2m institutional part of the rights issue has been completed, but it may be harder to get the $A21.4m from retail investors.

Publication Date: 8 March 2003

FLIGHT CENTRE LIMITED - ASX FLT: 

BRITANNIC TRAVEL LIMITED:

SHAW STOCKBROKING LIMITED:

ITG LIMITED:

AMERICAN...

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