Bidders for First Choice narrows

Bidders for First Choice Holidays PLC’s mainstream package tour business appear to have narrowed to MyTravel Group PLC and Thomas Cook, the Financial Times reported citing people close to the company. Thomas Cook is 50-50 joint venture between Deutsche Lufthansa AG and Karstadt Quelle AG.

Bids are not now expected from Tui and Kuoni, two other European tour operators thought to be interested in the First Choice division.

MyTravel has already revealed its interest in making a bid, the newspaper said.

First Choice, which announced full year profits yesterday, reiterated that discussions with a number of parties concerning the sale of the mainstream holiday business—valued at about 500 mln stg—were still at a ‘preliminary stage’.