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Mytravel Share Discussion Threads
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So far, only one other company has demanded compensation for an illegal merger prohibition. MyTravel, the UK tour operator, was barred from a tie-up with First Choice but later won its appeal against the ruling. Its claim is pending before the court.
MyTravel said on Wednesday: "We are very interested to see this decision. We will now take time to review the judgment and see how, if at all, it has implications for our case. In the meantime, we await a hearing date."|
Companies that have an axe to grind with the European Competition Commission will be more compelled to take legal action against it now that the regulator has been told for the first time to pay damages for misjudging the legality of a takeover.
Would seem to improve MyTravel's chances of securing damages.|
First mention in a long while that this issue is still alive.
Slaughters is still advising the company on its attempt to seek damages through the European courts after the Commission blocked its proposed merger with First Choice in 1999.|
|shares are well up today.worth buying more .?|
|full steam ahead for TC plc|
|same happened to me, i could not see the streaming page corretly for a yr and i keep paying, even when i wrote my letter to unsubscribe, it stii takes about 2 month to stop taken money from my card. their staff are unhelpful at all, when i said i want to cancel, the guy did not even ask me why.|
|Citigroup reckons the shares are worth around 370p and has upgraded. Seems to be some momentum here. wonder what they will say when the thomas cook deal gets referred to the ec? http://www.market-insider.net/?p=1509|
|Sadly although I've been in this (with much buying and selling) since 2000 I think I'll bow out in the morning. First buy was at £2.18 - so £3.20 will give me a 46% profit!!
OK, so there was something about a D4E swap but that makes the profit look better than it maybe really is. And over 6.25 years 46% isn't that great either.
All in all I end up slightly down. If only I had sold for a massive (for me certainly) profit in the summer of 2003. Oh well - they will probably fly as soon as I'm out, but I can't see too much more in them.
Good luck to all who hold !
|drewz - if only markets were rational - but they are not - ? is at what level to sell - timing is all - jarbie|
|Do these city suits and analysts really understand the travel business?
This is entirely a strategic defensive move by the lumbering TC/MT to delay their inevitable demise since their mainstay mass market short-haul package product is surely in serious and expensive decline.
Plus long-haul travel is going to become less affordable with ever higher oil prices and high environmental taxes suppressing demand.
Ski holidays are going to become more expensive and problematic in European resorts as poor snow at low levels due to global warming shortens the season and deters bookings.
Short-term trading opportunities are one thing, but I would not invest in a mass market tour operator like this if looking for long-term capital growth.
All the big tour operators have had to retrench, sell shops and cut central costs repeatedly over recent years as the mass package market has declined and they try to compete against the easyjets, Ryanairs and internet-only booking sites of this world.
The rise of low cost carriers and rapid take-up of broadband Internet use for booking travel services direct with airlines/hotels has completely scuppered the 1990's vertically integrated business model of these big tour operators. They are all carrying huge unwanted overheads for call centre staff, overseas offices and reps and under-used retail shops all of which are largely unnecessary these days.
They don't add any useful value any more. They just add an unnecessary extra level of cost to the consumer.
It was all very well offering "the full package service" with travel agent advice, overseas reps/transfers etc 30 years ago when folk were nervous of travelling abroad to unfamiliar places for the first time. But times have changed and the travelling public are a lot more sophisticated and knowledgeable these days.
This move to combine MyTravel and Thomas Cook is a predictable strategic move to try and dominate the cheap blue collar end of the package market and secure their future a bit longer, but I believe their sales revenues will continue to decline and losses will mount as more and more people use smaller independent providers, niche players with specialist knowledge and direct Internet booking of hotels, airlines, car hire, travel insurance etc.
Cue more rounds of cuts and sell-offs of bits of the business over coming years as the industry fragments further.
First Choice has decent management and I have a lot of respect for Peter Long who has tried to diversify into small specialist travel companies with niche markets but the senior management at the others - TuiUk/Thomson (who are ex Airtours), Thomas Cook and MyTravel have proved to be very poor in recent years imho as they have been slow to keep up with the changing dynamics of the travel market place.
Making a decent profit in this type of operation is all about guessing the right amount of forward capacity to contract to meet next summer's demand. Get that wrong by even a small factor and they end up flogging off perishable capacity well below cost and quickly racking up big trading losses. And despite the price sensitive declining market there is always a tendency to grab market share by over contracting.
As more and more people find it is easy to take control of their own travel arrangements, not pay months in advance but at the point of need, and save money overall to boot, it will become increasingly difficult for the big tour operators to accurately guess forward demand.
At the holding company level, Michael Frenzel clearly made a huge strategic blunder taking Preussag out of heavy industrial engineering and oilfield services and into package holiday tour operating just at the time the Internet and low cost airlines appeared to lure away lots of his customers. Meanwhile oil services companies are booming! That change of tack has cost his shareholders millions, if not billions of s. How much would Thomson shares be trading for now if still trading on the LSE? Not a lot I'll wager.
Likewise I believe this move by KarstadtQuelle (who will now be majority owners of the Thos Cook/MyTravel entity) will only delay the inevitable decline in value for shareholders over the medium long-term.
No doubt they see cash flow synergies as the tour operators have traditionally had big seasonal cash inflows which may be attractive to a retailing group like KarstadtQ. As for the £75m cost saving from combing the two groups, how much of that will be eaten up in exceptional restructuring costs this year and next, and how much more by declining sales?
That is how I see it unfolding over the next decade anyway, but my views may be somewhat jaundiced since I retired from the travel business almost 20 years ago after toiling for years as an independent, and we always had grief from the major tour operators and arrogant domineering British Airways constantly chipping away at our margins.
Therefore usual caveats apply, all imho, dyor etc.|
|should roll any minute, huge buy orders going in on the order book.
looks like the broker notes are out ;-)))))))))))|
|lol who said he did'nt.|
|As confident as I am in someone called BIGBOBJOYLOVE who has just appeared on the boards, do you have any links to broker comment please.
Shame your broker didn't give you all the inside information before it was announced hey?|
|very strong level2. Brokers said this could make the ftse 100 hence the rise and 400 target.|
|375 - 400p|
|has there been any broker note on this yet ref future prospects / price|
|lol yes yes ;-)|
|back in now, ever heard of trading? tit!|
|BIGBOBJOYLOVE.....i thought 375 was a given this pm, your contact in the city, awsome deal or something wasnt it!? - yet now you're out LOL! i hope no noobs listened :-)|
|400p was fair value put on em this am, out 318. Will be back in shortly no doubt.|
|I took 3.5% as it was Mytravel's stated target. 4% on a PE of 12, would give about 410p, I think. Anyone else?|