Thomas Cook is Buying Intourist in Russia

The British holding company Thomas Cook is very close to buying stake in Russia's tourism agency Intourist , said a source close to the negotiation process. 

One source said about ownership transfer to Thomas Cook. The Vice President of AFK Sistema announced that it was only a minority stake. 

Buying Intourist will give the opportunity to the British holding to create a foothold in the rapidly developing tourist market of Russia. Thomas Cook gave no comment. 

"Negotiations on this subject (the establishment of joint-stock partnership) are waging. Half way we have already passed, but the deal is very complicated," - told Reuters vice president AFK Sistema, Head of Business Unit Consumer Assets Felix Evtushenkov. 

"There are too many" if ", and the outcome of the transaction will depend on the occurrence of any event within three years." He refused to give further details.

Nat Lawyer

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