Chinese leisure group Fosun buys stake in Thomas Cook
- 9 years ago
A Chinese investment company has bought a 5 percent stake in British Travel company Thomas Cook.
Fosun is moving fast into the European holiday market after buying France’s Club Med in February.
Fosun paid $140.12m for the slice and intends to buy another 5 percent down the line.
Thomas Cook shares climbed 16 percent in early trading in London.
The company has suffered in recent times since the advent of the low-cost airlines.
Thomas Cook restructured and closed many of its outlets, once a feature of the British high street.
Fosun is moving fast into the European holiday market after buying France’s Club Med in February.
Fosun paid $140.12m for the slice and intends to buy another 5 percent down the line.
Thomas Cook shares climbed 16 percent in early trading in London.
The company has suffered in recent times since the advent of the low-cost airlines.
Thomas Cook restructured and closed many of its outlets, once a feature of the British high street.