I keep hearing TCX is eyeing up Excel too. It would make strategic sense and remove capacity from the market as the downturn kicks in. The CP at TCX has denied it but that means nothing and he is leaving shortly in any case.
TCX is likely to go down the B737 route as opposed to the A321 due to range issues as a fleet replacement for the ageing 757s and coupled with the fact that they already operate A330s, a deal to buy Excel would appeal.
I too am hearing that the TCX-MYT merger has been very problematic so far and maybe buying Excel now might be biting off more than it can chew but never say never.
Regards
Orion Man