BERLIN (Reuters) – Germany’s tour operator DER Touristik, a unit of retail group REWE, is in advanced negotiations regarding a takeover of Munich-based rival FTI, daily Handelsblatt reported on Thursday citing people familiar with the transaction.
A precondition for the deal would be a massive cut of FTI’s debt, which amounted to around 1 billion euros ($1.1 billion), the paper said.
($1 = 0.9292 euros)
(Reporting by Kirsti Knolle; Editing by Paul Carrel)
