No contact with Tatas: Orient-Express

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Friday , May 09, 2008 at 1437 hrs Orient-Express Holdings, owners of luxury hotels and trains, has said there has been no fresh communication from India's Tata Group for a strategic alliance between them.

During a conference call on Thursday to discuss its first quarter results, Orient-Express Hotels CEO Paul White said, "We have not had any further conversations with Tata Group's Indian Hotels for a strategic tie-up.”

White was replying to a question whether the company had any discussions with Indian Hotels on the subject of a strategic alliance.

There have been speculations about a take-over attempt by Tata group's Indian Hotels ever since it disclosed late last year a 10.5 per cent shareholding in Orient-Express.

Meanwhile, the firm's net loss widened to 4.3 million dollars in the January-March quarter of 2008, from 3.7 million dollars in the same period a year ago.

There are also rumours of DLF mulling a possible acquisition of OEH.

Earlier, OEH management had rebuffed Tatas' demand for a business alliance, saying any association with a predominantly Indian brand would dilute its premium brand value. This evoked a strong reaction from Tatas, which sought a public apology for using libellous remarks in the refusal.