Pursuits
Telefonica Sells Online Travel Agency Rumbo to Bravofly
This article is for subscribers only.
Telefonica SA, Spain’s biggest phone company, will sell a 50 percent stake in online travel agency Rumbo as the debt-ridden Spanish phone operator trims debt.
Tourism company Bravofly SA, based in Chiasso, Switzerland, will buy Telefonica’s stake and also the 50 percent held by Spanish travel operator Orizonia, the companies said in an e-mailed statement today. The deal is worth about 74 million euros ($95 million).