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We’ve seen quite a few acquisitions the past few years in the travel space, and we’ve also seen some strategic investments. However, typically we see airlines investing in airlines, and hotels investing in hotels. This situation is different.
Reuters is reporting that AccorHotels is considering buying a minority stake in Air France-KLM. AccorHotels has confirmed their interest in a statement, saying that they may buy some or all of the French state’s 14.3% stake in Air France-KLM. This could come in the form of the French government selling some or all of their shares in the company, or even potentially swapping their Air France-KLM shares for some shares in AccorHotels.
Air France-KLM shares are up about 6% following the news, while AccorHotels shares are down about 7%, which I think is pretty reflective of the general sentiment regarding a deal like this.
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