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.
