Thomas Cook buoyed by ‘takeover chatter’
Thomas Cook shares inched up slightly today following media speculation that the tour operator could be bought by Club Med-parent Fosun International.
Chinese conglomerate Fosun bought a 5% stake in Thomas Cook for £92 million in March, saying at the time that it planned to double its shareholding to 10%.
Earlier this week, the Daily Mail reported there had been ‘chatter’ in the City about a possible takeover of the business by Fosun, which appears to have sparked a near 2p rise to just over 118p.
There was also talk, said the newspaper, that rival TUI Travel or Fosun – bidding directly or via Cook – might launch a bid for Kuoni, which sold its UK are and operations in Switzerland, Scandinavia and the Benelux region to German rival DER Touristik in June.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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