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LONDON (Reuters) – Thomas Cook, China's largest shareholder, Fosun Tourism, has presented a preliminary approach to its tour operator business, pushing up the troubled UK group by 20%.
The oldest travel company in the world is already considering selling its air transport unit and making an offer to buy for its Nordic business after a series of profit warnings. Forced to raise funds to repay his debt.
Thomas Cook stated that there was no certainty that the Fosun approach would result in a formal bid and that it would take into account all the offers, alongside the other strategic options in its entirety. possession, to bring as much value as possible to the stakeholders.
Fosun Tourism is already present on the European market thanks to its participation in the tourism activity of Club Med.
Thomas Cook, weakened by the dwindling demand for his package holidays, a warm 2018 summer, which has discouraged reservations and high debt levels, has fought for his future in recent months and is on the verge of collapse.
In May, his third profit warning, released in less than a year, indicated that higher fuel and lodging discounts and costs would be detrimental to him during the peak summer season.
Shares in Thomas Cook were 18% on 0750 GMT.
(Kate Holton report, edited by James Davey / Keith Weir)
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