Is First Choice, the Right Choice for Richard Branson? January 16

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Sir Richard Branson could look to extend his empire by bidding for travel company First Choice’s package holiday division, which has experienced troubled times of late.

Richard Branson VirginA potential auction for the division would see it fetch between £500 million and £600 million – and it has been reported that Virgin Holidays, Branson’s long-haul holiday tour operator, has got together with a private equity firm to put forward a bid.

It therefore seems that Sir Richard Branson’s Virgin company will join tour operators Thomas Cook and My Travel in bidding for the branch of First Choice, which revealed last month that it was in discussion with various parties and was discussing a “range of alternatives” to get the most out of its package holiday division.

A spokesman for Virgin is reported as saying that the group was “looking at” the situation regarding a bid.

Permira and Apollo are also reported to have come in for the First Choice branch, but the saga looks set to be quite a long running one and recent coverage would suggest that the odds are sliding on the package holiday section soon doing business the Richard Branson way.

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