eDreams Odigeo hints at a merger on the horizon with a strategic review

Barcelona-based travel booking firm eDreams Odigeo could be about to sell itself or merge with another company after it announced a strategic review this morning.

Unsolicited approaches from potential investors prompted the unanimous decision by the board to being a review and appoint Morgan Stanley as a financial advisor.

At the same time, the company raised its guidance for the 2018 fiscal year and for 2020. It said this was as a result of gaining more favourable terms from suppliers and creating operational efficiency through scale.

The company, which was itself formed from the merger of several travel firms, has attempted to position itself as a leader in technology through acquisitions of smaller tech firms.

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But, speaking to City A.M. in September, chief executive Dana Dunne admitted that the company had not raised its profile as much as its competitors such as Trivago.

eDreams Odigeo said that the review process was still at an early stage and there was no certainty of the level of interest from the potential investors. The company did not release details of who had made the approaches.

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