Thomas Cook in acquisition expansion

KarstadtQuelle AG’s Thomas Cook is to expand through acquisitions, the daily Handelsblatt reported, quoting sources close to the tour operator’s supervisory board. First Choice Holidays of the UK is a likely takeover target, the report said. It added that a Thomas Cook spokesperson declined to comment.

According to sources in the tourism industry, Thomas Cook is also interested in acquisitions in Germany, the report said.

Deutsche Lufthansa AG announced on Friday that it is selling its 50 percent stake in joint venture Thomas Cook to KarstadtQuelle for 800 million euros.