eTravel to buy FlyAway

eTravel, a subsidiary of Netmedia has informed consumer watchdog UOKiK it plans to take over its peer FlyAway for PLN 14.2 million, the company said in a filing. The aim of the transaction is the consolidation of the market. Earlier, Netmedia informed that revenues of the group would increase by 20-25 percent and gross profit by 25-20 percent once the deal is concluded.