The ISLANDER wrote
"Once MYT approached with an offer they had to be seen jumping through the hoops as far as the City was concerned"
.......The fact is this was the 3rd attempt by MYT (Airtours) to buy First choice and I think it is misguided to suggest that First choices' management were just playing ball to appease the city. The last two attempts were actively opposed by Peter Long (First choice CEO) last one was in 1999.
Given the shrinking Package holiday market, Peter Long is keen to off load the least profitable section of First Choice before it becomes a liability and the bid war between MYT and TCX bumped up the price nicely...not anymore. Best of luck
