British specialist travel company Holidaybreak is in discussions with Mumbai-based tour operator Cox & Kings for a possible offer.
Holidaybreak said the discussions may or may not lead to a cash offer. The news sent its shares up more than 12% on Tuesday.
Cox & Kings confirmed that it was in acquisition talks with Holidaybreak, but had not finalised an offer. Its shares closed down 0.9% at Rs 197.85 on BSE.