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US: Orbitz makes moves towards company sale

By  |  January 21, 2015

According to a source, Orbitz has hired Goldman Sachs to represent the company in a sales attempt. Orbitz hired Barney Harford as CEO six years ago to turn the company around, and he has managed to recover the stock prices, but Orbitz is still far behind Expedia and Priceline as far as sales are concerned.

After Bloomberg announced on Tuesday that private equity firms were considering buying the company, Orbitz stocks rose 7.7 percent by the afternoon. Other potentially interested parties include Expedia, though if it is entering the final stages of outright purchase of Travelocity, the sale would like be blocked on antitrust grounds, reports say.

Experts say other possible buyers include foreign-held Alibaba or even Amazon.com if the company wanted to quickly expand its new hotel platform within the US.

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