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First Choice may sell unit

27 November 2006

First Choice Holidays is in talks with a number of parties, including rival MyTravel, over the possible sale of its package holiday business, it said on Monday, lifting its shares to a new high.

Analysts said a deal was likely to be worth at least 500 million pounds and would allow First Choice to develop its adventure and short-breaks businesses, while giving MyTravel plenty of scope for cost savings.

source: Reuters

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