		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/thomas-cook-merger-faces-oft-probe.jpg"><img class="alignnone size-full" title="The planned merger of Thomas Cook and the Co-op has been referred to the OFT for investigation" src="http://londonglossy.com/wp-content/uploads/2011/01/min-thomas-cook-merger-faces-oft-probe.jpg" alt="The planned merger of Thomas Cook and the Co-op has been referred to the OFT for investigation"/></a></p>
<p>The planned merger of the high street travel businesses of Thomas Cook and the Co-op has been referred to the Office of Fair Trading for investigation.</p>
<p>Thomas Cook said the European Commission had granted the OFT&#8217;s request for jurisdiction over the deal on the grounds that it solely relates to the UK.</p>
<p>The OFT said last month that its initial view of the tie-up was that it significantly threatened competition in the supply of package holidays sold through retail travel agencies in the UK.</p>
<p>With more than 1,300 shops, the newly-formed company would be the UK&#8217;s largest travel agent and second biggest in foreign exchange.</p>
<p>The OFT will have 45 working days to look at the merger, which it could refer to the Competition Commission for an in-depth investigation.</p>
<p>Thomas Cook said: &#8220;We will continue to work closely with the OFT to obtain a rapid clearance.&#8221;</p>
<p>In October, Thomas Cook, the Co-op and Midlands Co-op announced plans to merge their high street travel businesses in a move expected to cost hundreds of UK jobs. </p>
<p>If given the go-ahead, Thomas Cook and Co-operative Travel stores would continue to operate under their own brands, but Thomas Cook&#8217;s Going Places shops will be rebranded as Co-operative Travel.</p>
<p>Savings of around £35 million a year from the merger are expected to be achieved through job losses, store closures and the combination of existing head offices into Thomas Cook&#8217;s current Peterborough HQ.</p>
<p>Co-operative Travel, which employs 3,000 staff, will also include its home-working business, which has 345 staff selling holidays from home, its web and call centre operations and Freedom Travel, its franchise group.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-68ed5470cbe8c">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-68ed5470cbe8c',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
