20th Aug 2020 09:16
(Alliance News) - French hotel chain Accor SA is exploring a merger with London-listed peer InterContinental Hotels Group PLC, French newspaper Le Figaro reported on its website late Wednesday.
According to Le Figaro Accor Chief Executive Sebastien Bazin has created a team to examine the possibility of a tie-up in early June, alongside Finance Director Jean-Jacques Morin and investment banks Centerview and Rothschild.
A potential merger would topple US chain Marriott International from its position as the world's largest hotel operator.
https://www.lefigaro.fr/societes/accor-a-etudie-un-mariage-avec-l-anglais-intercontinental-20200819
Accor shares were up 2.4% at EUR23.72 in Paris, while IHG shares were up 0.3% 4,007.00 pence in London.
By Arvind Bhunjun; [email protected]
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