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Lastminute buys Online Travel Corp

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Online travel agent lastminute.com has bought Online Travel Corporation for £54.9m

The deal values OTC shares at 31p each or .1319 of a new lastminute share for each OTC share. Lastminute has received irrevocable undertakings from 26.6 per cent of OTC shareholders and from the company's board.

OTC claims 15 million customers through a network of sites which includes a2btravel.com, bargainholidays.com and deckchair.com. ®

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