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Merger murmurs give TUI Travel a day in the sun

17 January 2012

TUI Travel waltzed into the spotlight on Monday after UBS initiated coverage on the holiday company with a “buy” rating and 220p target price.

The broker added TUI to its merger watch-list following recent speculation that its parent company, TUI AG, is looking to buy out the remaining 45.5pc of the business it does not already own.

UBS also initiated coverage on TUI’s beleaguered rival Thomas Cook, which it handed a “neutral” rating. The broker said it preferred TUI because of its developed product mix and stronger balance sheet.

source: Telegraph.co.uk

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