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lastminute.com acquires French e-travel company - Company Business and Marketing

Telecomworldwire, August 14, 2000

TELECOMWORLDWIRE-14 August 2000-lastminute.com acquires French e-travel company (C)1994-2000 M2 COMMUNICATIONS LTD http://www.m2.com

UK-based last minute solutions specialist lastminute.com has acquired the French online travel firm Degriftour for GBP58.9m.

Degriftour, France's biggest Internet-based travel company, has a 50% share of the online travel market in France and operates at a profit. Lastminute.com said that the acquisition would enable it to achieve now what would have taken it two to three years, reported the BBC.

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It is thought that the purchase of Degriftour will help lastminute.com to move into profit sooner than predicted. City analysts told the BBC that there is a chance the company could now break even within a year, rather than the previously forecast 2003.

((Comments on this story may be sent to tww.feedback@m2.com))

COPYRIGHT 2000 M2 Communications Ltd.
COPYRIGHT 2000 Gale Group
 

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