OFT expresses doubt over planned Cook-Co-op merger
The Office of Fair Trading expressed fears today that the proposed retail merger of Thomas Cook and the Co-operative Group will "significantly affect competition" on the high street.
It is also concerned about the impact on independent tour operators who, it fears, may lose their distribution channels through the Cooperative travel branches.
On referring the matter to the Competition Commission for a detailed inquiry, the OFT said in a statement: "The joint venture would bring together two of the three largest travel agents on the UK high street.
"The OFT was concerned that, if the joint venture went ahead, it could significantly affect competition in the supply of travel services via retail travel outlets in the UK, which remain an important distribution channel, in particular for package holidays and other holiday products."
Following an earlier request from the operators, the OFT cut short its investigation to immediately refer the proposed merger, which would also include the Midlands Co-operative Society.
Sheldon Mills, OFT director of mergers Sheldon Mills said: "Travel services such as package holidays represent a big area of spending for many UK consumers and this proposed joint venture brings together two of the largest high street travel agencies in the country.
"It is therefore important that the proposed joint venture is carefully considered to assess whether it will lead to a substantial loss of competition.’
‘Following discussions with the parties, we have decided that there is sufficient evidence to warrant a fast track reference to the Competition Commission for a detailed inquiry."
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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