Proactive Investors - Run By Investors For Investors

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.

View full TCG profile View Profile

Thomas Cook Group Timeline

Related Articles

Garden Route
11:20
The luxury travel specialises in bespoke holidays and holds over 3,500 hotel and agency contracts around the world
Theme Park
March 28 2019
Canaccord Genuity upgraded its rating for accesso to ‘buy’ from hold’ following the e-ticketing and guest experience firm’s recent full-year 2018 results
Oil pollution
July 02 2018
A name change might be in order if PCG pulls the trigger on two investments it is mulling

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use