Capita in talks to sell travel unit

Capita is in talks to sell its travel business, the outsourcer said on Tuesday.

An unsolicited offer for the non-core travel businesses was received from Corporate Travel Management Limited several weeks ago, the FTSE 250 company said, confirming recent press speculation.

"Given the stage of discussions, which are ongoing, there is no certainty that the disposal will complete or of the transaction consideration."

Capita's Travel & Events business is one of the units in its Specialist Services division, which include businesses that either not felt to be within the group's growth markets and/or have little in common with our other divisions.

The company has said that it is managing these stand-alone operations on a portfolio basis in order to maximise value.