Travelzest and Red Label cease offer talks

Shares in upmarket market travel operator group Travelzest plunged more than 20% after the firm announced it has ceased offer talks with Red Label Vacations.

Shares in upmarket market travel operator group Travelzest plunged more than 20% after the firm announced it has ceased offer talks with Red Label Vacations.

Red Label had made an indicative proposal which offered a price at a premium to the current share price, but Travelzest felt the offer "significantly undervalued" the company.

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