Thomas Cook takes back former business

Travel giant Thomas Cook today won the global rights to the famous name after buying back its former businesses in India and the Middle East.

Thomas Cook will pay up to €249m to investment firm Dubai Financial Group for the businesses, which it sold in 2006 before its landmark merger with former Airtours business MyTravel last year.

The deal gives the company a leading position in an Indian travel market growing at 15% a year, as well the control over the Thomas Cook brand in Egypt and 15 other Middle East countries.