Sabre to sell lastminute.com
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Sabre Holdings is looking to sell Lastminute.com and has already appointed advisory firm Houlihan Lokey to oversee the auction.
According to a report in The Sunday Times, potential buyers could include private equity firms and rival online travel groups such as Expedia.
Lastminute.com has failed to capture the imagination in Europe, with France and the UK leading its market share.
And with underwhelming performance Sabre is looking to offload the website that operates as a subsidiary of Travelocity, its group of e-commerce businesses.
A spokesman for Sabre said: “We are always reviewing options to make our technology company as successful, relevant and innovative as possible. If we have news to share, we commit to doing so quickly and transparently.”
Analysts have commented that many rivals have been aggressively active in the market while Lastminute.com has failed to engage key partnerships.
It has also been suggested in reports that the American firm is willing to take a substantial loss on the £600m it paid for the website in 2005.
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