The UK boss of Stella Travel has dismissed a report that the company’s deal to buy Global Travel Group was tied up in a few days in November.
Analysts had expressed amazement at the claim that a deal could be completed in two weeks following contact at World Travel Market. The claim supported the idea the deal was a surprise. In fact, it had been under discussion for some time.
Stella Travel Services UK managing director Andrew Laurie confirmed: “There is no way Stella would get away with doing a deal in two weeks.
“We are owned by a publicly listed company and the announcement was preceded by a significant period of discussion and examination. It would be amazing if you could do any deal that quickly.”
In fact, the deal was not technically completed until January 1.