Thomas Cook Backs Off From Merger
JULY 11, 2008. Thomas Cook Group and Air Berlin have informed the German Bundeskartellamt (Federal Cartel Office) that they are withdrawing their current application for approval of the proposed merger of Condor Flugdienst GmbH and Air Berlin.
The parties have also agreed that the existing agreement be terminated.
Thomas Cook continues to view Condor as a strong business with significant potential. Whilst discussions continue with Air Berlin about the feasibility of an alternative transaction, Thomas Cook is also pursuing a range of other available options for Condor.
In light of the potential materiality of the other options, Thomas Cook has decided to suspend its share buy back programme until further notice.
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