Thomas Cook: in talks for takeover of Biblio-Globus?
(CercleFinance.com) - The Thomas Cook share is up over 5% in London today, while according to an article in the Russian press Kommersant, the tour operator would be in negotiations to takeover Biblio-Globus.
This company is one of the largest tour operators in Russia. The value of a potential deal would be around 10 billion Russian rubles (about 137 million euros) according to Kommersant. The British group is already the parent company of the Russian tour operator Intourist Aurel BGC says.
Remember that Thomas Cook would also be considering separating from its airline business. Such a deal, discussed internally would be for the British group to free up cash, which could then be used to reduce its heavy debt and finance its expansion.
The work for a potential split is only still at early stages, with no decision set to be made straightaway, although action could revitalize the company after years of problems.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
This company is one of the largest tour operators in Russia. The value of a potential deal would be around 10 billion Russian rubles (about 137 million euros) according to Kommersant. The British group is already the parent company of the Russian tour operator Intourist Aurel BGC says.
Remember that Thomas Cook would also be considering separating from its airline business. Such a deal, discussed internally would be for the British group to free up cash, which could then be used to reduce its heavy debt and finance its expansion.
The work for a potential split is only still at early stages, with no decision set to be made straightaway, although action could revitalize the company after years of problems.
Copyright (c) 2019 CercleFinance.com. All rights reserved.