Orbitz Worldwide Spikes 8% On Sale Rumors

Shares of Orbitz Worldwide, Inc. OWW spiked up Tuesday amid reports that the company may explore a sale.

According to a Bloomberg report, the company is reaching out to potential buyers and that both private equity funds and other Internet companies may have an interest in acquiring the online travel agent.

The report indicated that with low oil prices driving record airline travel, Orbitz is expected to see record revenue of $932 million in 2015.

An Orbitz representative declined to comment on the company’s plans.

Orbitz recently traded at $9.96, up 8.6 percent.

Posted In: NewsRumorsBloomberg
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