Source: Times (UK)
Thomas Cook scraps plans to buy Air Berlin
Thomas Cook and Air Berlin have scrapped a deal in which Thomas Cook would have taken a 30 per cent stake in Air Berlin and sold its own loss-making airline, Condor, to the budget airline.
The tour operator said today that it and Air Berlin had withdrawn an application for merger approval from the German Bundeskartellamt, the equivalent of the Office of Fair Trading. At the time the deal was announced in September, Thomas Cook said it would receive shares in Air Berlin worth between €380 (£303) and €475 (£379) million plus €120 million in cash.
Thomas Cook scraps plans to buy Air Berlin
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Thomas Cook scraps plans to buy Air Berlin
' Fiat Justita'