class = “sc-cffd1e67-0 iQNQmc”>
Vail Resorts, the US’s giant ski resort operator, is increasingly gaining ground in Switzerland. At the end of last year, the Americans also captured the Crans Montana VS ski area after the Andermatt-Sedrun UR/GR. But that doesn’t seem to satisfy his hunger.
Rumors are currently circulating in Verbier VS: wealthy chalet owners found an anonymous letter in their mailbox on January 20th. Accordingly, “the timing of the takeover could occur in a very short time.” This was reported by the newspaper “Le Matin Dimanche”, where the letter was published. The Verbier Chalet and Apartment Owners Association also confirmed that they had received the letter.
The letter indicates the Burrus family will “likely” exit the stock package. The family holds more than 30 percent of Téléverbier, the largest mountain railway company in Western Switzerland. However, when asked by “Le Matin Dimanche”, Christian Burrus denied the allegations: “I have no ongoing discussions with Vail Resorts or anyone else to sell my shares.”
Journey to Vail
But the Burrus family took a trip to Vail, Colorado, with Téléverbier’s president and executive. Although Verbier and Vail Resorts have a long-standing partnership, the trip following the Crans Montana takeover has raised suspicions of a closer connection.
The American ski resort giant does not hide its intentions: the acquisitions in Switzerland are “part of its strategy to build a resort network in Europe”. Epic Pass will also become increasingly attractive in Europe; currently gives you access to 42 ski areas worldwide. But the majority are in the USA.
rescue call
The purpose of the anonymous letter is to prevent a takeover by Vail Resorts: anyone who “believes Téléverbier should remain in local hands” is urged to join the rescue effort. Although the Burrus family originally comes from France, they have lived in Verbier for a long time. This gives the family a connection to the area that Vail Resorts lacks. The second largest shareholder is the municipality of Val de Bagnes, with approximately 25 percent.
The city government of Verbier doesn’t know anything yet. “Since this issue has recently raised questions of citizens and elected representatives, we are closely following any developments in this direction,” explains Pierre-Martin Moulin, general secretary of the municipality. According to Moulin, if the rumor turns out to be true, it would not be surprising if Téléverbier would deny it and Vail Resorts would remain silent, as both companies are publicly traded and therefore have strict communication requirements. (kae)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
