2018 has been a noteworthy year for the car rental industry. From big scandals to new, innovative startups entering the forever-in-development space, it is safe to say that there is a lot to reflect on as the year draws to a close.
During the course of the past few months, we have heard various rumours regarding the future of Sixt; a car rental firm that many say are in the process of purchasing one of its competitors; Hertz. While this would be one of the biggest car rental acquisitions of the last century, Sixt has now squashed these rumours, confirming that no money with be changing hands between the two brands.
The rumour was intensified on Wednesday, when Seeking Alpha reported that there was a purchase in the pipeline. While giving little detail away, it claimed “European car rental player Sixt SE is interested in a takeover.”
Seeing the rental industry enter a sort of frenzy, many firms and industry thought leaders shed their thoughts and opinions online, imagining the corporate power of such a meeting of minds.
However, the idea of a takeover has been cleared up, with Sixt releasing a statement just today.
“Current market speculations and media reports in the USA that Sixt SE is interested in acquiring Hertz are completely unfounded and false,” Sixt officials said.
“Sixt rejects these rumours as inaccurate” the continued.
While the brand was eager to dispel of such tales, both firms were rewarded when it came to their market worth. Following Sixt’s statement, shares in the firm rose by over 3%, giving investors a nice return on the money they had wagered. Hertz gained 7 percent on Wednesday, reaching a three-month high.
Let us know what you think, was the rumour worth the free PR? Leave your comments with us.