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Fosun reportedly raises stake in Thomas Cook to 11%

05/11/2017| 7:37:40 PM|

Chinese conglomerate Fosun has raised its stake in Thomas Cook Group to 11%, reported Travelweekly, citing a disclosure file.

The latest disclosure came as investment bank JP Morgan said Thomas Cook and rival Tui could benefit from a comeback by Turkey as a holiday destination.

Club Med owner Fosun took an initial 5% shareholding in Thomas Cook for £91.8 million two years ago and boosted the stake to 8.2% in 2016.

The companies launched a joint-venture in China last year, eyeing affluent Chinese tourists. 

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TAGS: Fosun | Thomas Cook
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