MCI creates travel giant

MCI Management, the listed technologies fund, has bought a 50% stake in Invia, a Czech travel website that leads the markets in the Czech Republic and Slovakia.

MCI is aiming to merge Invia with Travelplanet, Poland's number-one online travel firm, in order to create a strong regional player capable of heading off challenges from large global firms.

The deal creates a regional powerhouse with combined revenues of €120 (zł.412) million, four times that of its nearest rival.