Avis CFO says company closely watching developments at Dollar Thrifty
Aug 2 (Reuters) - Avis Budget Group Inc's finance chief said the car rental company was keeping a close eye on Dollar Thrifty Automotive Group but declined to say if it was still interested in buying its smaller rival.
"Our disclosures on Dollar Thrifty are all out in the market," Chief Financial officer David Wyshner said on a post-earnings conference call. Wyshner had been asked if Avis would unequivocally rule out participating in further consolidation in the rental car industry in North America.
"We have told people where we stand on it, and we are watching what happens very carefully," he said.
Avis, which dropped out of a takeover battle for Dollar Thrifty last year, has met with the company several times this year, Reuters reported on Wednesday.
Dollar Thrifty on Wednesady urged Hertz Global Holdings to put an end to two years of fruitless takeover offers by either making a compelling bid or letting it proceed as a standalone company.
Hertz is in talks with the U.S. Federal Trade Commission to get antitrust approval ahead of a planned bid for Dollar Thrifty.
Shares of Avis, which reported strong results on Wednesday, rose as much as 15 percent on Thursday on the Nasdaq.
Dollar Thrifty shares were up 7 percent at $76.38.
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