Travel division sale forecast for end of year

Travel division sale forecast for end of year

THOMAS Cook chief executive John Donaldson said a deal for the travel division should be completed by the end of the year.

But he declined to comment on speculation that German operator C&N Touristic was poised to become its new owner.

Talks are currently taking place with Carlson, a 22% shareholder, which is expected to buy the remaining stake but then immediately sell a controlling interest to C&N.

“We are actively involved with Carlson which is evaluating all its options,” said Donaldson.

“It is likely there will be an announcement by the end of the year.”

However senior Thomas Cook executives, who are believed to favour a deal with C&N, said a deal could be finalised much sooner.

“It would be no surprise if something concrete is announced in a couple of weeks,” said one source.

“C&N has a good management team which has got on well with the senior managers at Thomas Cook.”