Wednesday, March 14, 2007

Let's tick one off the list

It appears our rumourmill round-up yesterday was right on the button:

1) Travelport’s OTA brands, Orbitz and Ebookers, will seek an IPO on either the New York or London Stock Exchanges.
Travelport has just issued a press release confirming as much.

The short statement says:
"Travelport Limited, the parent company of the Travelport group of companies, announced today its intention to sell a portion of its ownership interest in its Orbitz Worldwide businesses, comprised of Travelport’s business to consumer businesses, in an initial public offering.

"The size of the ownership interest to be sold and the amount of proceeds to be received from the disposition of Orbitz Worldwide are yet to be determined. A portion of the proceeds will be used by Travelport to reduce its outstanding indebtedness."
Kevin May, editor, Travolution

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