Avis wins battle

Avis Europe, the car rental company that will come to market later this month, has won its battle to be listed as a member of the transport sector when it returns to the London Stock Exchange.

The company had feared that it might listed as a distributor but the classification committee has accepted its arguments that it should return to the transport sector where it was listed before a buy-out in 1989. The decision could mean that Eurodollar, a rival car rental company, might now also be reclassified as a transport rather than distribution company.