Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education

Front Page



UK Politics







Talking Point

In Depth

On Air

Low Graphics

Friday, September 17, 1999 Published at 13:24 GMT 14:24 UK

Business: The Company File

Online travel firm may float

Holidaymakers use to book flights to the sun

Internet travel company is planning to float on the stock market - at an estimated value of £400m.

The firm, which was founded only last year, may also seek a Nasdaq listing as it is poised to break into the US market.

London-based Lastminute offers cheap deals on flights and hotel bookings in the UK and France, as well as gifts, auctions and entertainment.

[ image: could be worth £400m] could be worth £400m
It was launched by two former management consultants, Brent Hoberman, 30, and Martha Lane Fox, 26. This year, it expects revenues of about £6.2m.

The site has proved popular with people wanting bargains but without shopping around.

Now the founders are planning to launch a prospectus and are appointing Morgan Stanley Dean Witter as adviser.

The site recently launched in France and plans to do so in Germany, too.

Mr Hoberman said: "We're working on getting a US offering out as soon as possible. Since we're also looking at the US market we wouldn't want to exclude US investors."

But he declined to comment on analysts' estimated value.

"Market conditions will be what they are at the time," he said. "If we can keep carrying our momentum and present the public with a rock-solid business case - which we do - the sky's the limit."

Advanced options | Search tips

Back to top | BBC News Home | BBC Homepage | ©

The Company File Contents

Relevant Stories

03 Sep 99 | The Company File
QXL bids for major Net float

17 Sep 99 | Sci/Tech
After Freeserve: The next wave of Net stocks

14 Apr 99 | The Company File
Geldof launches travel Website

04 Mar 99 | E-conomy
Is e-shopping safe?

Internet Links

The BBC is not responsible for the content of external internet sites.

In this section

Microsoft trial mediator welcomed

Vodafone takeover battle heats up

Christmas turkey strike vote

NatWest bid timetable frozen

France faces EU action over electricity

Pace enters US cable heartland

Mannesmann fights back

Storehouse splits up Mothercare and Bhs

The rapid rise of Vodafone

The hidden shopping bills

Europe's top net stock

Safeway faces cash demand probe

Mitchell intervenes to help shipyard

New factory creates 500 jobs

Drugs company announces 300 jobs

BT speeds internet access

ICL creates 1,000 UK jobs

National Power splits in two

NTT to slash workforce

Scoot links up with Vivendi

New freedom for Post Office

Insolvent firms to get breathing space

Airtours profits jump 12%

Freeserve shares surge

LVMH buys UK auction house

Rover - a car firm's troubles