| Journal: TWUK | Section: |
| Title: | Issue Date: 22/05/00 |
| Author: | Page Number: 2 |
| Copyright: Other |
Carlson tipped as favourite to increase Thomas Cook stake
CARLSON Companies is the favourite to increase its stake in Thomas Cook after Preussag’s decision to sell its 50.1% stake in the UK company.Carlson has a 22% stake in Thomas Cook, with Preussag holding 50.1% and Westdeutsche Landesbank, which also has a stake in Preussag, having the remaining 27.9%. But Carlson has the option to acquire 100% of Thomas Cook and is keen to increase its shareholding.
“We have the first option on increasing our stake and we want to make the decision soon,” said a Carlson spokesman.
Carlson would need a partner to own Thomas Cook’s airline because a US company is not allowed to own more than 49% of a European Union carrier. Analysts have suggested a Cook/Carlson/Kuoni tie-up.
Thomas Cook chief executive John Donaldson’s main concern is to maintain staff morale which could be affected by Preussag’s decision to dump Thomas Cook.
“I’m disappointed but in the past seven years we’ve had three ownership changes, so we are used to it,” he said. “We’ve got 20,000 people worldwide and maybe 20 have had contact with Preussag. I don’t think it will have a big effect.”