TT. Tui Travel

    RNS Number : 9726F
  TUI Travel PLC
  16 October 2008
   

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO AUSTRALIA, CANADA, UNITED STATES OF AMERICA OR JAPAN, OR ANY
OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
    16 October 2008 
    TUI AG ("TUI")
    No intention to make an offer for TUI Travel plc ("TTP")
    On 12 October 2008, TUI announced that its Supervisory Board had approved the disposal of all of the shares in Hapag-Lloyd AG to a
subsidiary of Albert Ballin KG at an enterprise value of Euro 4.45 billion. TUI stated in that announcement that its strong liquidity and
financial situation resulting from the sale will open up investment opportunities for further expansion of its tourism business and that the
options explored in this connection also include a possible offer for the outstanding shares in TTP which TUI does not already own.  
    While TUI continues to consider all of its options for the application of the disposal proceeds, TUI confirms that it has no current
intention to make an offer to acquire the shares in TTP which it does not already own.
    For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers (the "City Code"), TUI reserves the right to announce an offer or
a possible offer to acquire the shares in TTP which it does not already own and/or to take any other action which would otherwise be
restricted under Rule 2.8 of the City Code within six months from the date of this announcement if there is a material change in
circumstances or in the event that:
    (i) the agreement or recommendation of the board of TTP is given to the making of such an announcement  or the taking of any such other
action; or
    (ii) there is an announcement of an offer or possible offer for TTP by a third party; or
    (iii) TTP announces a "whitewash" proposal (as described in Note 1 of the Notes on Dispensations from  Rule 9 of the City Code) or a
reverse takeover (as described in Note 2 on Rule 3.2 of the City Code).  

    

    This press release is also available at www.tui-group.com.
    Investor relations contact:  

    Bj Beroleit, phone +49 (0) 511 566 1310
Nicola Gehrt, phone +49 (0) 511 566 1435 

    Group Communications contact:  
    
Uwe Kattwinkel, phone +49 (0) 511 566 1417 
Robin Zimmermann, phone +49 (0) 511 566 1488


This information is provided by RNS
The company news service from the London Stock Exchange
 
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