US hedge fund stalks MyTravel
Wednesday, July 26, 2006 : PermalinkNow according to TimesOnline, Pardus Capital, an activist American hedge fund, had acquired a 4% stake in shares at MyTravel. Activist hedge funds pressure company management to boost share prices by unlocking shareholder value, it is believed that the hedge fund may pressure MyTravel to boost its share price by selling parts of the business or merging with rivals..
Shares in MyTravel have dropped 4.5 per cent this year. Last month it reported that pre-tax losses for the six months to April 30 had dropped to Ã…Â70.3 million from Ã…Â119.5 million a year earlier.
The group includes brands such as Airtours, Aspro, Cresta, Direct Holidays, Escapades, Manos and Panorama in the UK, Sunquest and ALBA Tours in North America, and Ving, Always, Tjoreborg, Spies, Skibby, MyTravel Tango, Bridge and Saga Solreiser in Scandinavia. The company also includes an in-house airline, MyTravel AirwaysMyTravel
MyTravel is a listed company whose shares are traded on the LSE.
Alex Akesson
Contributing Writer
HedgeCo.Net
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