22 Dec 2021, 15:07

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TUI and Abbott Resorts merger announced
Today TUI and Abbott Resorts have announced the intention to merge into a single group to provide efficiencies of scale and to have a portfolio of hotels to integrate into their package holidays. The new business will merge with TUI shareholders getting 26.7% of shares in the new group and Abbott Resorts and Hotels getting 73.3% of the shares in the new group.The new group is estimated to be worth at least €42 Billion.

The new group will merge on January 4th 2022 if there are no challenges with an estimated combined revenue of €79,366,948,076.71 with potential first year profits of at least €6 billion with potential for this to rise with savings through efficiency. The group is also looking at buying the Harry Shaw Coach tour company to operate as part of a new combined group under the brand. The company if successful in this would cement its lead at the top of the holiday market being the major player in the industry. The news has shocked analysts who expect further consolidations from other players in the industry to challenge TUI with several potential mergers possible.