Fexco in talks on travel firm takeover

FINANCIAL services firm Fexco is believed to be involved in takeover talks with the struggling online reservations group CNG Travel.

Fexco is understood to be carrying out due diligence on Kenmare-based CNG Travel, which is listed on London’s Alternative Investment Market (AIM).

Shares in CNG have lost nearly 60% of their value this year, but are up 21% since the company confirmed it had received a takeover approach late last month.