Travelocity Parent Company To Purchase Lastminute.com

Travelocity's parent company, Sabre Holdings Corp. is purchasing British rival company Lastminute.com for about 577 million pounds ($1.1 billion). "We're extremely pleased with the prospect of having Lastminute.com, with its highly-regarded brand and well-established customer base, as a part of our Travelocity division," said Sabre Holdings chairman Sam Gilliland. Sabre's Travelocity Europe is paying 1.65 pounds ($3.08) a share for Lastminute.com. The combination of these two companies will create Europe's largest online travel retailer. Jonathan Loades Carter & Lina Saigol at Business Standard According to Bloomberg News, they were at 167 pence at 1:33 p.m. local time, boosting the company's market value to about 570 million pounds. The company's stock has increased by 58% over the last two days. Chris is a staff writer for latest ebusiness news