July 25 The United Kingdom's Takeover Panel has
granted an extension to TUI Travel Plc, Europe's biggest
tour operator, and its majority owner, TUI AG, to
confirm their proposed merger.
TUI Travel and the German travel and tourism group said on
June 27 they were in talks to merge. The deal, if it goes
through, would create the world's largest leisure tourism group.
The companies now have until Sept. 19, from an earlier
deadline of July 25, to confirm whether they intend to merge.
TUI Travel shares were down 1 percent at 364.8 pence at 1531
GMT. TUI AG shares were down 1.4 percent at 10.80 euros.
($1 = 0.5891 British Pounds)
(Reporting by Aastha Agnihotri in Bangalore; Editing by Joyjeet