Skift Take
It's an excellent, opportunistic move by Branson to make a bid the same week the very complacent car rental companies announced plans to boost rates on corporate customers.
Richard Branson’s Virgin Group Ltd., the travel and entertainment conglomerate, wants to enter the U.S. rental-car business by buying the assets of the Advantage brand that Hertz Global Holdings Inc. was ordered to divest.
Virgin sent a letter dated June 7 to the U.S. Federal Trade Commission expressing its interest as the FTC decides whether to give final approval to Hertz’s $2.3 billion acquisition of Dollar Thrifty Automotive Group Inc. last November. The agency’s concern that the brand may not be viable with its new owners has delayed that decision.
“Virgin looks at opportunities where we believe our brand and service can make a difference for the customer and shake up a market,” said Nick Fox,
