Thomas Cook is in talks with Fosun, the China-based owner of Club Med, to sell its tour operator business in a move that would lead to a break-up of the 178-year-old UK travel group.
A deal would include the package holiday business and hotel estate, leaving only Thomas Cook’s profitable airline, which it is trying to sell separately.
The Chinese group already owns almost a fifth of Thomas Cook’s shares and had been cited as a potential source of rescue funds for the UK company, which has suffered a difficult month amid deep concerns about its business.
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