German travel agency Thomas Cook AG, owned jointly by German retailer KarstadtQuelle AG and airline Deutsche Lufthansa, is looking to spin off 140 German offices into a joint venture, according to Financial Times Deutschland. Thomas Cook is in talks with its potential JV partner, Raiffeisen-Volksbank Altoetting, the company announced late Thursday, the newspaper reports. Thomas Cook plans to retain considerable influence in the chain’s operations, the FTD said.
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