Thomas Cook and MyTravel are expected to clear a significant hurdle on the road to their merger on April 2 after the European Commission granted an initial clearance.
Under EU Merger Regulation rules the MyTravel group was given clearance for the proposed acquisition by KarstadtQuelle AG of the 50% of Thomas Cook AG which is owned by Lufthansa. The transaction will take place on April 2.
Both parties have notified the EU authorities of the merger proposal ahead of a decision about whether it should be referred for a phase 2 European Commission investigation on May 4.
Should the merger get the go ahead sharhodlers will be notified after May 4 with the completion of the merger expected by the end of June or early July.