Budget Reportedly in Talks for Sale

NEW YORK -- Reuters news service has reported that Cendant Corp. is in negotiations to acquire Budget Group. Cendant is the parent company of Avis Rent A Car System.

According to Reuters, sources close to the talks said that Budget first expects to sell its European business for about $75 million to Sixt AG, the largest car rental company in Germany.

Though Budget has acknowledged its interest in selling some of its European operations, the company has not commented on press reports about talks with Cendant.

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