latest PTVL: Talks between online travel agents Preview Travel (PTVL:Nasdaq) and Microsoft's Expedia have fizzled, according to a source close to Preview.
Expedia was still in pursuit of Preview Travel, even after the company announced a merger on Oct. 4 with Sabre Group's (TSG:NYSE) Travelocity Web site. "They hit a stumbling block," the source said. "If it doesn't happen when the iron is hot, it doesn't happen."
Preview was in talks with both Travelocity and Expedia before making its decision to merge with Travelocity, two sources told TheStreet.com. Microsoft spokesman Tom Pilla said the company "doesn't comment on rumors." Preview executives couldn't be reached.
Preview's stock is up more than 70% since the deal was announced. Sabre's stock is up 7%.
-- Suzanne Galante<----same reporter that put out rumor on Friday from thestreet
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FMR Corp. has 12 pct stake in Preview Travel
WASHINGTON, Oct 13 (Reuters) - FMR Corp., the parent to Fidelity Management & Research Co., said Wednesday it has a 12.05 percent stake in Preview Travel Inc. (NasdaqNM:PTVL - news), an online cruise and vacation booking service.
Boston-based FMR, in its initial filing with the Securities and Exchange Commission, said it has 1,665,200 shares of San Francisco-based Preview Travel.
Sabre Holdings Corp. earlier this month announced plans to spin off its online travel business, Travelocity.com and merge it with Preview Travel to create the largest online travel agent.
The combined company, to be called Travelocity.com, requires approval by the shareholders of Preview Travel and the new company would be 70 percent owned by Sabre and 30 percent owned by Preview Travel.
Preview Travel shares are up 1/2 to 30-1/2 on Nasdaq.
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