Thomas Cook has received a preliminary takeover offer for its tour operations from the Chinese company Fosun Tourism, its largest shareholder, with Thomas Cook shares rising by 20% following the news.
The world’s oldest travel and tourism company is considering the sale of its airline division and an offer for its Nordic operations, after a series of profit warnings forced Thomas Cook to raise funds to pay off debts.
Thomas Cook announced that it is not certain the Fosun offer will lead to a formal bid and that it will analyze any offer alongside other strategic options to maximize value for shareholders.
Frequently Asked Questions
Who is Fosun Tourism?
Fosun Tourism is a Chinese company and the largest shareholder of Thomas Cook, currently interested in acquiring its tour operations.
Why is Thomas Cook considering selling its divisions?
The company is facing financial pressure following several profit warnings and needs to raise funds to manage its debt.
What happened to Thomas Cook’s shares after the news?
Thomas Cook’s shares increased by 20% following the announcement of the preliminary offer from Fosun Tourism.