We get very emotive about the Germans but I don’t think that people are going to be bothered by the fact that the company are German.”Preussag’s chief executive, Michael Frenzel said: “The acquisition of Thomson Travel is an important step towards Preussag’s goal.”Last night Susan Knorre, Preussag’s spokeswoman, said the group was very similar to Thomson in terms of quality, hotels and destinations. She also said there were no fears than xenophobic Britons would be put off going on holiday with a German company “People here are aware of the jokes,” she said. “We understand the British humour more than you might think.”. BG International, the overseas arm of BG, which is to be demerged from the rest of the group later this year, yesterday announced a $450m (£300m) investment in Tunisia.

BG International, the overseas arm of BG, which is to be demerged from the rest of the group later this year, yesterday announced a $450m (£300m) investment in Tunisia.
The company said that the move underlined the rationale for the demerger. Peter Crumpler, a spokesman for BG, said: “This is an example of the strong growth trends that we see in our international markets. It shows that we have two successful companies and that is why we decided that each should develop separately.”BG International is to invest the funds in offshore fields, over nine years. It will develop the Hasdrubal gas and condensate discovery, extend the Miskar gas field and undertake further exploration in Tunisia.Most of the investment will go on Hasdrubal, which contains recoverable volumes of about 260 billion cubic feet of gas and 25 million barrels of condensate, a light oil.The Miskar field, which currently supplies over 65 per cent of Tunisia’s total daily gas demand, will expand from 168 million to 200 million standard cubic feet of gas per day by 2001.David Varney, chief executive of BG, said: “BG has entered into a long-term relationship with the Tunisian authorities and is committed to supply a substantial segment of Tunisia’s gas needs to 2020.” The company said it was also looking at other gas investment opportunities in Tunisia. This could include power generation and vehicles which run on gas. BG said last July that it would invest £5bn in international operations over the next five years.Last week the company announced first quarter profits at BG International had jumped from £90m to £184m.It will be demerged from its UK domestic and telecoms operation following a shareholder meeting this autumn and there has been speculation that Shell may make a bid..

Granada Group, the media, hospitality and hotel business, could finalise a £6bn merger with Compass Group, the contract caterer, before the end of the week, according to sources. Granada Group, the media, hospitality and hotel business, could finalise a £6bn merger with Compass Group, the contract caterer, before the end of the week, according to sources.
In confirming the deal talks, the companies said the new group would be demerged within a year, separating the enlarged company’s hospitality businesses from Granada Media. Analysts said the hospitality company would be capitalised at between £11bn and £12bn, with the media company valued at £5bn to £6bn.In a joint statement yesterday confirming the talks, Granada and Compass took the unusual step of specifying that the deal was unlikely to result in a premium for Compass shareholders. “Any such merger will be on terms broadly reflecting recent average market capitalisations of the two groups,” they said.It is understood, however, that the price to be paid for Compass, which is likely to offer new Granada shares with a mix-and-match cash alternative, has already been agreed. “They’ve set the price, but until the deal is done and signed, they won’t reveal the terms,” said a source, who said the deal should be finalised this week.The non-premium price structure of the merger has left a sour taste in the mouths of City players. “It’s potentially a big negative for Compass shareholders,” said Fraser Ramzan, an analyst with Lehman Brothers, who has rated Granada stock as “outperform”. “Granada’s property assets will dilute the value of Compass shares.”Those concerns made Compass the biggest loser in the FTSE 100 yesterday, with its share price plunging 131.5p, or 16 per cent, to 771p.