Ladbroke unfazed by Hilton's ITT bid
Analysts had earlier speculated that Hilton's planned acquisition of a 20 per cent stake in Ladbroke, a possible precursor to a bid, might be put on the back burner now the US hotel group had bigger fish to fry. A cross-shareholding arrangement was struck earlier this month as part of a larger marketing and reservations co-operation agreement between Hilton and Ladbroke, which has the rights to Hilton hotels outside North America.
The deal re-united the Hilton brand name around the world for the first time in 33 years. It allowed both sides to take a stake of up to 20 per cent in the other and Hilton had indicated that it intended to take an initial investment of 5 per cent.
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