July 25, 2014 / 3:36 PM / 3 years ago

TUI Travel and TUI AG get extension on merger talks

The logo of German tourism group TUI AG, owner of Europe's largest travel company TUI Travel, is pictured on a computer screen in this illustration picture taken in Lavigny May 20, 2012.Valentin Flauraud

(Reuters) - The United Kingdom's Takeover Panel has granted an extension to TUI Travel Plc TT.L, Europe's biggest tour operator, and its majority owner, TUI AG (TUIGn.DE), 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 Das

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