3rd Dec 2010 11:02
3 December 2010
Thomas Cook Group plc
Thomas Cook Group notes that the Office of Fair Trading has made a request to the European Commission for jurisdiction over the proposed retail travel joint venture between Thomas Cook Group, The Co-operative Group and Midlands Co-operative on grounds that the case solely relates to the UK.
The European Commission has until 6 January 2011 to consider whether to grant this request. In the event that the request is granted, the Office of Fair Trading will then have up to forty five working days to reach a decision.Thomas Cook Group, The Co-operative Group and Midlands Co-operative are working with the relevant authorities to achieve an expedited clearance for the joint venture.
Manny Fontenla-Novoa, Chief Executive, Thomas Cook Group plc said:
"The joint venture is a clear demonstration of our commitment to the high street. We always new that this request was a possibility and we will continue to work closely with the relevant authorities. We remain confident that the transaction will be cleared in due course."
Enquiries:
Thomas Cook Group plc |
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Investor Relations | +44 (0) 20 7557 6414 |
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Finsbury | +44 (0) 20 7251 3801 |
Faeth Birch |
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