Jun 10, 2019
Thomas Cook receives approach from China's Fosun
Troubled travel firm Thomas Cook has said it has received a takeover approach for its tour business from China's Fosun. Fosun is already Thomas Cook's largest shareholder, and also owns the Club Med holiday business. Thomas Cook said it was in talks with Fosun, but added there could be "No certainty that this approach will result in a formal offer". The firm's shares fell sharply in May on fears over its financial strength. The travel firm - which has annual sales of £9bn, 19 million customers a year, and 22,000 staff operating in 16 countries - is already trying to sell its airline.
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