Swiss travel company Kuoni Reisen Holding AG (KUNN) has a “theoretical” interest in buying parts of Thomas Cook Group Plc. (TCG)’s Indian business while ruling out any move to buy a European operation from the company, Frankfurter Allgemeine Zeitung reported.
Kuoni wants to expand its Asia business to account for 50 percent of its total sales in coming years from 42 percent now, the newspaper said, citing Kuoni Chief Executive Officer Peter Rothwell. Kuoni sees no possibility of buying Thomas Cook assets in Germany, Scandinavia or the U.K. as they would offer too little synergy or raise antitrust problems.
The Swiss company may seek to reduce business in Italy and Spain while at the moment this is “not an option.”
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