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The owner of online travel business today quashed speculation that it was about to make a move for UK-based rival ebookers.
InterActiveCorp (IAC), which is Expedia’s parent company and the owner of other leisure businesses including Hotels.com, said it did not currently intend to make an offer after deciding not to participate in discussions.
The announcement comes a month after ebookers – a specialist in trips to Australia and the United States – said it was in preliminary discussions with several interested parties about a possible sale.
It did not name the potential suitors but analysts identified IAC and the parent company of website business Travelocity as the most likely candidates.
Shares in ebookers tumbled by as much as 15% following today’s announcement but later recovered to stand 5% or 10.75p cheaper at 216.5p. That gave the London-based business a value of around £141m (€204m).
US-based IAC did keep the door ajar by reserving the right to return to the fray in the event of the ebookers board agreeing to recommend an offer by IAC or if another party announces a firm intention to make an offer.
Ebookers, which has websites in 13 European countries and also operates brands including Flightbookers, Bridge The World and The Adventure Company, warned in July that full-year profits would be hit by weak sales in June.
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