First Choice Holidays is on verge of buying LateRooms.com, an online hotel booking site, for an estimated 100 million to 110 million pounds, according to the Daily Telegraph. (12/22/2006)
As per the information available, the travel company was understood to be in exclusive discussions to acquire the website from private equity firm ECI Partners after its offer trumped that of other bidders, the newspaper said in an unsourced report. A deal could be announced in the next few days, it added.
Its been reported that ECI Partners bought LateRooms.com in 2004 for 25 million pounds.