Corporate Travel Management joins list of terrible UK investments

Corporate Travel Management (CTM), a billion-dollar travel reservation company with a monopoly federal government travelIt joins a long list of Australian companies entering the UK and losing shareholders’ money.

CTM’s shares were suspended in August when it first announced it had found major problems on its books. unable to complete annual accounts. At that point, the company was valued at $2.35 billion. When CTM eventually starts trading again – assuming it does – this valuation will disappear immediately after the transaction is completed. Last week’s shocking revelations The extent of potential losses and the cause of the problems: Overcharging customers in the UK, where the company is involved in the lucrative business of welcoming the tide of immigrants across the Channel.