Thomas Cook rumoured to be set for buyout by shareholder Fosun; Kuoni also a target for Fosun, TUI
Thomas Cook is rumoured to be a buyout target for Fosun International, the China-based conglomerate which acquired a 5% stake in the UK-listed travel agency chain six months ago, The Daily Mail reported. City chatter also suggested Fosun might attempt a takeover of Switzerland-based travel group Kuoni, through Thomas Cook, or directly, the market report said.
The rumours indicated Thomas Cook’s UK-based competitor TUI Travel might also be interested in moving on Kuoni, the report said.
Thomas Cook has a GBP 1.76bn (USD 2.72bn) market cap on the London Stock Exchange.
Daily Mail