Travelport Limited said today that it's planning an initial public offering to sell a portion of its ownership interest in Orbitz Worldwide, which is headquartered in Chicago.

New York-based Travelport hasn't yet determined the size of the ownership interest it plans to sell, how much it plans to raise in the offering or the price it plans to charge investors for shares. The travel conglomerate plans to file registration documents with the Securities and Exchange Commission during the second quarter and take the IPO to market during the third quarter, 2007.

Orbitz Worldwide, which employees 2,000 workers worldwide, runs Orbitz.com, the second-largest travel site in the U.S. as well as CheapTickets.com, the fifth-largest online agency.

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