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Thomas Cook shares fly higher after Lufthansa says it will make offer for Condor

Thomas Cook put its airlines business up for sale in February after issuing profit warnings last year

thomas Cook
Shares jumped over 10% around noon

Thomas Cook Group PLC (LON:TCG) shares soared after Lufthansa said it would make an offer for the travel firm’s German airline Condor.

Lufthansa chief executive Carsten Sphor said on Tuesday that the German airline would make a bid for Condor with an option to buy Thomas Cook’s remaining airlines, according to Reuters.

READ: Thomas Cook confirms talks with lenders amid reports it is looking to secure £400mln

However, Sphor said it would unlikely a single buyer could take over all of Thomas Cook’s airlines due to antitrust regulations.  

He declined to comment on the offer price for Condor.

Shares in Thomas Cook leapt 10.5% to 23.9p around noon.

Thomas Cook put its airlines business, which also includes British, Scandinavian and Spanish operations, up for sale in February after issuing profit warnings last year.

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LSE:TCG
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