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BREAKING NEWS

BREAKING NEWS

Fosun Tourism in talks to buy Thomas Cook's tour operating business - Sky News

Fosun Tourism in talks to buy Thomas Cook's tour operating business - Sky News
FILE PHOTO: The Thomas Cook logo is seen in this illustration photo January 22, 2018. REUTERS/Thomas White/File Photo -
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Thomas White(Reuters)
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(Reuters) – Fosun Tourism Group is in talks to buy Thomas Cook’s tour operating business, Sky News reported on Saturday.

Sky News said a formal bid from Fosun was not yet guaranteed and discussions were at an early stage.

Fosun was working with bankers at JP Morgan on the potential offer, according to the report.

A formal bid from Fosun could come in weeks but would not include the world’s oldest tour operator’s airline business, as it would not be allowed to buy it under EU aviation rules, according to the Sky News report.

Thomas Cook and Fosun did not immediately respond to a request for comment.

(Reporting by Philip George in Bengaluru; Editing by David Holmes)

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