US e-tailer Priceline.com is extending to Europe its successful concept of finding cheap products and services for "brand indifferent" customers.
The company, which has a small stake in publicly quoted UK e-commerce site lastminute.com, is to launch Priceline.com Europe, a service that allows consumers to specify the price they are prepared to pay for an item, and then scours the net for a matching supplier. Initially its offering will be restricted to airline tickets, hotel rooms, long-distance phone calls and car rentals.
The European venture will be headed by Dennis Malamatinas, 45, former Burger King chief executive [WAMN, 23-Jun-00].
News source: The Times (London)