RE: New FT article12 Aug 2019 14:53
I just read the FT article,
First part of it was copied from today's RNS, the second part was about NK :
Last week, Thomas Cook’s equity tripled in value after Neset Kockar, the chief executive of Turkish holiday group Anex Tour, built up an 8 per cent stake in the company.
In a statement, Mr Kockar said: “We believe Thomas Cook has more value and potential than what is being discussed recently, particularly with the skillset and complementary capabilities Anex Tour shall put forward. We are keen to explore further the potential strategic initiatives related to Thomas Cook and engage with the relevant stakeholders.”
Rupesh Tailor, chief executive of Everest Research, said Mr Kockar’s investment might suggest that he wanted to benefit from Thomas Cook’s footprint in Turkey where it has about 50 own-brand hotels.
Thomas Cook has suffered as customers have shifted from the high street to the internet, while Brexit uncertainty has added to its woe. The company employs 21,000 staff globally and operates about 567 high-street stores in the UK.
“[It] is puzzling as to why he didn’t try and gain equity exposure through buying the bonds and participating in the restructuring. That could suggest he’s planning something more transformative himself?.?.?.?or that he maybe wants to block a Fosun-dictated recapitalisation and to have a say in how this is done,” said Mr Tailor.
Thomas Cook said that it had not had any contact with Mr Kockar. Mr Kockar could not be reached for further comment.