First Choice’s mainstream holiday business is worth between £680 million and £880 million, according to stockbrokers ABN Amro.
The valuation is higher than the £500 million Citigroup advised Thomas Cook to bid for the company. Since December last year, MyTravel said it was in talks with First Choice over a possible takeover.
An advisory note from ABN Amro said the merger was a ‘must do’ deal for MyTravel.
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