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Article: Thomas Cook on the block.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- June 10, 2009
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Algy Hall
ANALYSIS: 53 per cent of travel group Thomas Cook is up for grabs after its largest shareholder files for insolvency.
While Thomas Cook has reassured the market that the collapse of majority shareholder Arcandor will not affect it operationally or financially, it has not been able to make the same assurances about its share price. All this year the prospect of the monster stock overhang being released onto the market by its financially-distressed owner has weighed on Thomas Cook's shares, which have fallen more than twice as much as those of rival TUI Travel since their May highs.
But the market is now betting that the release ...