Online retailer Lastminute.com has claimed pole position in a further country, after buying Franco-Italian flights firm Travelprice.com.

Lastminute said the £31.9m takeover, paid in shares, would hand it top spot in Italy's online travel and leisure market.

The purchase will also consolidate the firm's front ranking position in France, where it bought Degriftour two years ago, a statement on Monday said.

Lastminute a month ago set its sights on pre-eminence in Germany's online travel agency market, through a partnership with LCC24, the internet travel arm of Lufthansa City Center.

City reaction

With the takeover of Travelprice forecast to be earnings enhancing in the first year after completion, the deal is not seen as knocking Lastminute off course from its target of moving into the black next year.

The deal also helped Lastminute shares stand firm against the current share market rout, with the stock standing unchanged at 92p in lunchtime trade.

The shares, while providing poor returns for those who bought at the price of more than £5 reached on launch day two years ago, have proved one of the best performers on London's stock market this year.

The shares started 2002 at 30.25p.

Monday's takeover is Lastminute's fourth acquisition, and third this year following the purchases of Destination Holdings Group for £12m last month and UK flight booking service Travelselect.com for £9m in April.