More money neededThe online travel retailers Wotif and Webjet...

More money needed

The online travel retailers Wotif and Webjet might have to dig deeper if they want to wrest control of travel.com.au. Shares in travel.com.au rose 2c to 60c yesterday, well clear of Wotif's 50c-a-share offer and Webjet's cash and scrip offer, which was worth 44.5c yesterday.

Travel.com.au shares are now worth more than double what they were at the start of the year. The sudden revaluation of the stock illustrates the importance the market places on travel retailers having a strong presence on the web.

The bidders appear more interested in the 9 per cent chunk of the fast growing online travel agency market that travel.com.au and its accommodation website lastminute.com.au have carved out for themselves.

But with Flight Centre talking down its interest, it remains anyone's guess which other travel companies might launch a bid to protect and bolster their share of the growing online market.

Melbourne travel company AOT has appeared on the register and there is speculation other retailers such as Jetset and even MFS might take an interest.


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