Business Services Industry
British Tour Operator Lashes Out over Lapsed Bid for Rival.
Knight Ridder/Tribune Business News, June, 1999 by Daily Mail, London
Knight Ridder/Tribune Business News
Jun. 11 -- Chances look slim that the European Commission will clear Airtours' UKpound 900 million bid for rival holiday group First Choice, allowed to lapse yesterday pending the EC decision.
While Airtours still hopes for regulatory approval, its frustration reveals the depth of Brussels' competition fears, communicated to the group privately.
Management accuses the Commission of "misconceptions and flawed views' which "beggar belief".
An offer to sell Air2000, Airtours' airline, did not satisfy regulators. Hedging its bets, the group is looking at other acquisitions in Europe and the US. Summer bookings are 3 percent ahead, next winter's up 4 percent thanks to the millennium.
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