Thomas Cook is now going ahead with its proposed merger with Co-op Travel. This news is much needed boost to the firm which has a series of profit warning leading to its chief executive stepping down. The merger is expected sometime in September which will result in opening up of 1,200 stores across Britain. Co-op presently has 360 stores and Thomas Cook has nearly 800, Midland Co-op, also part of the deal, has 100. It has been decided that Thomas Cook shall enjoy a 70 per cent stake in the new group formed with Co-op which is said to help Co-op save around £35 million annually. In the month of August, Competition Commission gave a green signal to allow the company to merge with Co-op and thereby become the biggest to become the biggest travel operator in UK.
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