The Strategist

Chinese Fosun to buy British Thomas Cook

06/10/2019 - 12:24

Thomas Cook Group confirmed on Monday, June 10, that it is in talks with the Chinese Fosun Tourism Group to sell their tourism business. At the same time, as noted by the British tour operator, this does not mean that negotiations will end with a formal purchase offer.

Thomas Cook is the oldest travel company in the world, operating since 1841. In its current form, the Thomas Cook Group business was structured in 2007. The company's headquarters is located in London.

Fosun Tourism Group is the largest shareholder of Thomas Cook with a share of 18%. Now the Chinese conglomerate wants to fully redeem the British operator, Sky News reported. Against this background, shares of Thomas Cook added more than 20% in price, having reached the level of 19.69 at the trade session in London.