FIRST Choice and Kuoni shareholders may have to wait until the end of April before seeing an offer document about their proposed merger.
The document will put the case for the merger and was expected to come out this week.
But a spokesman for First Choice said it had been a difficult task because two documents needed to be produced – one for UKshareholders of First Choice and one for Swiss shareholders of Kuoni.
One analyst was critical of the amount of time taken to produce an offer document.
“Iit’s about time we saw something,”said the analyst. “It makes you think there is some sort of hitch.”
Airtours is tipped to make a counter bid for First Choice (Travel Weekly March 22), but will wait to see the offer document before making a decision.