This is a really insightful article by the erudite Ian Taylor. The Chinese conglomerate Fosun sounds like the last lifeline left for Thomas Cook. So (hopefully) Britain's oldest and arguable most icon travel brand will fall in to Chinese ownership.
In 2016 Skyscanner, our most successful travel metasearch engine was also acquired by Chinese travel giant Ctrip.
And today we read that Britain's biggest brewer and pub retailer, Greene King established in 1799 is to be acquired by a Hong Kong based Billionaire.
Be in no doubt as to where the significant future investment is coming from, keep looking east.
Thomas Cook confirmed this week it is in talks with bondholders to secure an additional £150 million in capital. This would take the value of the proposed rescue deal by Chinese group Fosun and Thomas Cook’s creditor banks and bondholders to £2.5 billion. Thomas Cook also restated that existing shareholders would see their stakes “significantly diluted” by the takeover.
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