Thomas Cook in talks with China's Fosun over tour operator sale

Thomas Cook in talks with China's Fosun over tour operator sale

China's Fosun Tourism has made a preliminary approach to Thomas Cook to buy its tour operator business, sending shares in the struggling British travel group higher.

FILE PHOTO: A Thomas Cook Airbus A321 airplane takes off at the airport in Palma de Mallorca
FILE PHOTO: A Thomas Cook Airbus A321-200 airplane takes off at the airport in Palma de Mallorca, Spain, July 28, 2018. REUTERS/Paul Hanna/File Photo

LONDON: China's Fosun Tourism has made a preliminary approach to Thomas Cook to buy its tour operator business, sending shares in the struggling British travel group higher.

Thomas Cook said in a statement on Monday it was in talks with the Hong Kong-listed Fosun, its biggest shareholder, about the operations. It said there could be no certainty that the approach would result in a formal offer.

"The board will consider any potential offer alongside the other strategic options that it has, with the aim of maximizing value for all its stakeholders," it said. Shares in Thomas Cook were up 12per cent in early trading.

(Reporting by Kate Holton; editing by James Davey)

Source: Reuters

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