Europe May Be Next For Cendant

Fourteen months after it first proposed a business combination with Orbitz, Cendant Corp. today began cash offers for the online agency's outstanding shares. The acquisition would be a huge boost to Cendant's position for online consumer travel in the United States, and now speculation is turning to what Cendant will do in Europe. One question is whether it will buy an agency that is predominantly online or offline.

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