Thomas Cook not to pursue with investment in TT Enterprises Pvt Ltd

With reference to the earlier announcement dated December 01, 2006, wherein in Point No 2 the Company had stated that the Company's plan to invest in equity share capital of the TT Enterprises Pvt Ltd to acquire its Visa Services Division, Thomas Cook India Ltd has now announced that the management of the Company has decided not to pursue further with the contemplated transaction since the transaction could not culminate prior to the expiration of the Memorandum of Understanding.

The stock was trading at Rs.504.20, up by Rs.4.85 or 0.97%. The stock hit an intraday high of Rs.505.30 and low of Rs.493.30. The total traded quantity was 60 compared to 2 week average of 1185.

Source : Equity Bulls

Keywords