All through 2008 and still in 2009, rumours were heard about Rewe’s expansion plans. Today, the Rewe management does not actively deny having potential interest in Arcandor’s 53% in Thomas Cook shares.
Early March of this year, Rewe’s CEO Alain Caparros said: “If there is a bargain under our nose, we will have a look at it”.After his CEO had made this statement, the head of Rewe’s tourist division, made an even stronger statement: “Thomas Cook would be a good fit for us, but there are currently no talks to buy the company”.
Today, analysts are starting to put two and two together. Rewe is interested in playing a pivotal role in further consolidation on the German market. Business wise and product wise, a merger would make sense. Both companies sit on 16% market share in Germany, a merger would make their position very comfortable and still not too dominating.
We feel that Rewe is discreetly feeling its way up Thomas Cook, while waiting for the axe to fall for Arcandor. A Rewe-Thomas Cook merger would be a positive move, strengthening the shareholder structure of Thomas Cook and adding strength and distribution power to the Rewe brands and companies.
All through 2008 and still in 2009, rumours were heard about Rewe’s expansion plans. Today, the Rewe management does not actively deny having potential interest in Arcandor’s 53% in Thomas Cook shares. 
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