Thomas Cook shares jump after Fosun buys 5% stake, Shares in Thomas Cook have jumped 21% following the news that Chinese conglomerate Fosun has bought a 5% stake in the UK travel company.
The move consolidates Fosun's presence in the European holiday market, after it bought France's Club Med last month.
Fosun paid £91.9m ($140.12 million) for 5% of Thomas Cook, and it intends to increase its stake to 10%.
Thomas Cook said the move could lead to collaboration with Club Med, and with Fosun's other leisure businesses.
The UK firm recently reported a loss of about £53m for the last three months of 2014.Read More
The move consolidates Fosun's presence in the European holiday market, after it bought France's Club Med last month.
Fosun paid £91.9m ($140.12 million) for 5% of Thomas Cook, and it intends to increase its stake to 10%.
Thomas Cook said the move could lead to collaboration with Club Med, and with Fosun's other leisure businesses.
The UK firm recently reported a loss of about £53m for the last three months of 2014.Read More
