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Lufthansa to sell Cook stake?
Lufthansa is reportedly considering a review of its half share in Thomas Cook.
The German airline is close to appointing advisors about strategic options for its shareholding in Europe’s second largest tour operating group, according to the Sunday Times. Any sell-off could raise hundreds of million of pounds.
Rival TUI is seen as a possible bidder for parts of Thomas Cook but competition issues would prevent a full bid, the newspaper reported yesterday.
An initial public offering or a sale to a trade buyer or public equity firm could be considered under the review.
German retailer KarstadtQuelle, which owns the other 50% in Thomas Cook, is undergoing a restructuring and the newspaper reports that it and Lufthansa want to focus on their core businesses.
Report by Phil Davies
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