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World Business Briefing | Europe: Britain: Travel Agencies To Merge


MyTravel and Thomas Cook will combine in a deal to create a more cost-competitive European-based travel company, the companies said. The new company will retain the Thomas Cook name, one of the oldest established brands in the travel industry. KarstadtQuelle, the German retailer that owns Thomas Cook and a department store chain, will hold a 52 percent stake in the combined group. MyTravel, which is based in London, will hold the rest. The combined company, which will be based in London and listed on the London Stock Exchange, will be called the Thomas Cook Group.

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