News

Thomas Cook and MyTravel are expected to clear a significant hurdle on the road to their merger on April 2 after the European Commission granted an initial clearance.

Under EU Merger Regulation rules the MyTravel group was given clearance for the proposed acquisition by KarstadtQuelle AG of the 50% of Thomas Cook AG which is owned by Lufthansa. The transaction will take place on April 2.

Both parties have notified the EU authorities of the merger proposal ahead of a decision about whether it should be referred for a phase 2 European Commission investigation on May 4.

Should the merger get the go ahead sharhodlers will be notified after May 4 with the completion of the merger expected by the end of June or early July.

Discussion

Please email to report any offensive posts. Any post deemed to contravene the Travel Weekly forum guidelines will be removed.

Login/Register to add your comments

Back to top