Jun 10, 2019

Thomas Cook in talks with Fosun to sell tour operator business

Thomas Cook on Monday confirmed it was in talks with Fosun, the China-based owner of Club Med, regarding a potential sale of its tour operator business. The Chinese group, which owns almost a fifth of Thomas Cook shares, has been previously cited as a potential source of rescue funds for the 178-year old UK travel business, after its shares plummeted last month amid deep concerns about its outlook. On Monday, Thomas Cook - which has been suffering under high debts and concerns over demand for traditional package holidays - confirmed it was in discussions, following a preliminary approach by Fosun. News of the Fosun discussions were initially reported by Sky News. Get alerts on Thomas Cook Group PLC when a new story is published.

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