Thomas Cook enlists China’s Fosun in £750m deal to salvage oldest travel firm
14 July 2019 - 18:18
Hong Kong/London — Thomas Cook is negotiating a £750m rescue that will give Fosun Tourism, its biggest investor, control of the indebted British group’s package-tour business, in a blow to other shareholders.
The company’s shares fell more than 45% to their lowest level on news of the proposal on Friday, which would give Club Med owner Fosun a minority stake in Thomas Cook’s airline business...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.