Thomas Cook Potential Breakup Value Is Minimal, Citi Says

Thomas Cook Group Plc has little potential breakup value for equity holders and few obvious buyers for some assets, according to Citigroup, which reiterated a zero pence price target for the embattled tourism operator’s stock.

“The valuation of the Scandinavian business could surprise on the upside, however, we see few obvious buyers for other parts of the group,” analysts led by James Ainley wrote in a note, noting that Deutsche Lufthansa AG “appears to have scaled back its interest in the airline sale.”