Summary
Tour operator First Choice saw its shares rocket ten per cent yesterday after revealing plans to merge with the tourism division of German rival and Thomson Holidays parent Tui.
News of the deal, which is set to create a new UK-based company called Tui Travel with pounds 12.1 billion in combined sales, was received well by investors as First Choice said the merger would help save at least pounds 100 million a year within three years across both businesses.See the full content of this document
Extract
First Choice Shares Soar Over Tui Deal
Shares in First Choice jumped 27.50p to 311.50p in early trading.
The tour operator had seen its shares slide by 16 per cent in February after rivals MyTravel and Thomas Cook announced their merger, which marked the end of ma...See the full content of this document
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