"As a result of receiving a number of unsolicited indications ofinterest to acquire TDS, the company has decided to further exploreother strategic alternatives," says Cendant chairman/CEO HenrySilverman, in a prepared statement. "The company's decision toconsider a sale in addition to pursuing the spin-off is due, inpart, to the fact that a sale of TDS is not expected to result in amaterial tax liability, as would a sale of Cendant's otherdivisions."

The move comes in the wake of Cendant's recent decisions tospin off its real estate group, now know as Realogy Corp., and itshotel group, since renamed Wyndham Worldwide. Asreported earlier, the Cendant name itself will eventually beretired.

The move regarding TDS, which itself is being renamedTravelport, also comes in the wake of a new management team for thedivision, headed by former Continental Airlines chairman GordonBethune and former Continental COO Jeff Clarke. TDS' brands includeOrbitz, Galileo and GTA (Gullivers Travel Associates).