Thomas Cook, the UK’s second-biggest travel agency, faces a merger with Rewe, its German rival, after the collapse of the UK travel operator’s biggest shareholder on Tuesday. Arcandor, the German retail group that owns 53% of Thomas Cook, filed for insolvency after the German government refused it state aid, in one of Europe’s biggest recent corporate failures outside the banking sector.

This entry was posted by Gwen Robinson on Wednesday, June 10th, 2009 at 4:45 and is filed under Capital markets, M&A. Tagged with Arcandor, Rewe, thomas cook. Edit this entry.