BREAKING NEWS

Fosun Tourism to buy intellectual property assets of Thomas Cook

Fosun Tourism to buy intellectual property assets of Thomas Cook
FILE PHOTO: People walk past a closed Thomas Cook travel agents store near Manchester, Britain, October 9, 2019. REUTERS/Phil Noble -
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PHIL NOBLE(Reuters)
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(Reuters) – Fosun Tourism Group <1992.HK> on Friday said it will acquire the intellectual property assets of Thomas Cook Group Plc for £11 million.

The assets on sale include trademarks, domain names, software applications and licences of Thomas Cook and other related brands.

Britain’s Thomas Cook, the world’s oldest travel firm, collapsed in late September succumbing to heavy debt.

Fosun also said it does not plan to buy overseas assets or businesses related to Thomas Cook.

(Reporting by Shreya Mariam Job in Bengaluru; Editing by Bernard Orr)

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