Does today's big drop warrant the resignation of the OZ Elon Mask - John Guscic? It seems his fancy idea to build the largest trade only digital travel marketplace WebBeds did not work.
Interesting to read this demerger article posted a few months ago. Why Webjet wants to let the Ferrari out of the garage, So, what to do? The board, chaired by wily Kiwi dealmaker Roger Sharp, wants to let the Ferrari out of the garage. Webjet is considering splitting into two separately listed companies: hotels wholesaler WebBeds and online travel agent Webjet.
It is a very 2024 plan – create two simpler businesses with separate management teams, addressable markets and capital structures, and let shareholders decide what they are worth.
The hotels business is likely to be compared to Airbnb, Booking Holdings, Expedia, Amadeus and perhaps, if it is really lucky, TBO Tek, a red hot Indian IPO that listed a week ago and is trading at 100 times profit.
The core Webjet business would be compared with Australia’s Flight Centre and Corporate Travel, along with Airbnb, Booking Holdings and Expedia.
WEB Price at posting:
$4.53 Sentiment: None Disclosure: Not Held
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