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MyTravel tumbles on break-up reports

LONDON (Reuters) - Shares in MyTravel have slumped after negative press reports highlighted worries about finances at the troubled tour operator.
Several newspapers said the problems had prompted MyTravel to consider formal sale talks to break up the business this week. MyTravel declined to comment on the report at the weekend, although a spokeswoman said the company was fully financed and that customers were safe to book holidays with it.

One dealer said there had also been speculation that rival First Choice FCD.L might bid for some or all of MyTravel, but First Choice made no mention of a move in a trading update on Monday. The update also showed First Choice was performing well, highlighting the problems at MyTravel MT.L .

At 0828 GMT MyTravel shares were down three pence at 17 pence. The shares have fallen from 250p at the start of the year. First Choice shares were up 2.2 percent.

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