June 11, 2019 / 10:20 AM / 4 months ago

BUZZ-Thomas Cook: Double or nothing says Barclays

** Shares of the world’s oldest travel co down 5.2% at 17.8 pence

** Shares surged 17% on Monday after UK group’s biggest shareholder, China’s Fosun Tourism, made preliminary approach for its core holiday operations

** “We believe it (TCG) could double or go to 0p”- Barclays, which cuts TCG’s PT to 17p from 46p

** Even if airline is sold, remaining co may struggle to meet financing requirements; premium airline sale value is unlikely -Barclays

** TCG, battered by fading demand for its package holidays, high debt and a hot 2018 summer in Europe which deterred bookings, is also weighing approaches for its airline business and Nordic operations as it seeks to raise cash (Reporting by Sangameswaran S in Bengaluru)

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