By Pia Heikkila, 29 June 2000 12:20
NEWS The US e-tailer, Priceline.com, will launch its services in Europe after appointing the former Burger King chief, Dennis Malamatinas, to head its operations. Malamatinas resigned from the fast food chain last week, just weeks before its IPO, to lead one of America's well-known online retail brands. Priceline.com is planning to launch its European operations initially in the UK, France and Germany in the autumn by offering customers cut price flights, hotel rooms and car rentals. The company's model lets users define the price they are willing to pay on products ranging from travel to groceries. Priceline.com made a $1bn loss in 1999, but according to reports, the company expects to reach profitability next year.
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