Thomas Cook shares rise with mixed news from Germany

Failure of majority shareholder may result in bid for whole company

SHARES in Peterborough-based travel giant Thomas Cook have risen following the news that another German company is interested in acquiring the shares belonging to its beleaguered German majority stakeholder.

The German tour operator Rewe has said it would consider taking Arcandor’s 52% stake in Thomas Cook should it be put up for sale. Arcandor filed for bankruptcy after failing to secure a bail-out from the German government.

Thomas Cook said Arcandor’s collapse would not cause problems for the company or for customers: “There is no impact whatsoever on our aircraft or our hotel relationships, nor on the holidays that we provide to our customers. It remains very much business as usual at Thomas Cook.

“Today’s announcement will have no impact on customers and is not expected to result in any adverse effect on any of the contractual arrangements of the Thomas Cook group.”

The shares have risen as a result of speculation that a bid for the whole company may be put forward.