The German C&N has decided against its plan to take over THOMSON TRAVEL following the surprise bid by PREUSSAG (see yesterday's EI). Should the operation succeed, it would give rise to the world leader in tourism with an annual turnover of 12 bn euro and 17.4 million customers. So as to secure the funding for the operation and secure approval of the competition authorities, PREUSSAG plans to sell its shares in THOMAS COOK (or 50.1% of the shares) and reduce its stake in HAPAG-LLOYD from...