Methinks Sapco doth protest too much. If AIH
were to try and takeover/merge with FC what
would they gain ?
AIH are already the biggest UK tour operator so they do not need to takeover FC to achieve the title which its founder coveted for so long. Cherry picking assets such as
Sovereign and SunSail could be attractive but
the costs involved would surely be prohibitive. Legal implications would result
in complications in respect of the staff of
any company AIH seeks to acquire.
In uncertain trading conditions it would seem
to be sensible for good companies such as
AIH and FC, which whilst they make mistakes are generally well run, to entrench their
existing positions as indeed they are seeking to do at the moment with some success
according to recent comments from the City.
The essence of AIH's legal appeal was to give
it the opportunity to expand when conditions
allowed. AIH directors said at the time that
their appeal was not an attempt to try once
again for FC - it was said to be a matter of
principle which upheld would allow other
acquisitions in the fullness of time. These
comments have recently been underlined by
AIH. Both AIH and FC have expanded since 1999
albeit in different directions - the clear
reservations which prevented the last takeover attempt are perhaps even more valid
when looking at the current size of the two
companies involved. There are of course other
targets out there at the moment - is their
a smokescreen being deployed at the moment ?
Mind you - having said all that I have - there is a delightful symmetry in the concept
of a holiday company called MY TRAVEL (FIRST)
CHOICE - it does have a certain ring to it !
Lets face it - in the month of November we
all have a bit too much time on our hands -
always good for a bit of good honest rumour
mongering.