Source: Barclays
Barclays Bank PLC (Barclays) and Thomas Cook UK Ltd (Thomas Cook) have today announced that they have signed a Shareholders' Agreement to form a 50/50 joint venture to provide a new Thomas Cook credit card and other financial services products.
The joint venture encompasses Thomas Cook's 600 UK shops serving approximately 3.5 million customers.
The move underlines Barclaycard's strategy to grow its UK lending business with a growing contribution from partnership business and follows previous, similar deals with Sky, Argos and House of Fraser.