Who Will Be The Second in The Deal?

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   The BANKO Information Service found out that one of large Moscow tour operating companies is attempting at buying assets of St. Petersburg travel company Riviera. According to information from unaccredited sources, the potential buyer is either TEZ TOUR or Intourist, with Intourist being a primary prospect. In general, negotiations with Riviera demonstrate high interest of Moscow players in St. Petersburg travel market followed by taking action in order to extend ‘sales territory’ (news/ 13.03). A BANKO correspondent contacted Vadim Lejnikin, the Head of Riviera, who commented on the deal as follows: ‘at the moment nothing prevents us from selling a block of shares to a Moscow tour operator but nevertheless, we do not plan this. We mostly bank on our present partnership TUI Mostravel Russia (TMR)’.
   You may recall from earlier bulletins, that in autumn 2005 Riviera entered into an option contract with TMR suggesting strategic partnership with possibility of sale of an equity interest. However, TUI disassociated itself from the deal announcing interest in Riviera from Mostravel only. Regarding the fact the Head of Riviera company pointed out: ‘the optional contract has returned dividends already that means Riviera achieved its main aim and as for sale of equity interest it has never been our principle target’. In this connection we remind you that before TUI and Mostravel announced the partnership both companies denied any possible co-operation. Therefore it might be German concern’s style not to comment upon a deal until it is made.