The British travel company Thomas Cook, which operates in Sweden under the company name Ving, confirms that talks have begun with Chinese Fosun regarding a takeover of the struggling charter business.

Fosun, which is Thomas Cook's largest shareholder, may soon make a bid for the travel operator, Thomas Cook writes in a press release. However, there is no complete clarity on whether or when this will happen, the company further writes.

Back in April, Fosun was reported to be about to bid for the company, as was the Wallenberg Circle's venture capital company EQT.

Thomas Cook has faced double profit warnings, large losses and a credit rating downgrade in 2018 and is in dire need of capital. In the industry, its main competitor Tui has also warned of profit several times during the year, while several airlines have gone bankrupt. 

The stock has fallen by 85 percent in the past year. However, at the opening of the London Stock Exchange on Monday, the stock rose by about 20 percent.

Source: News Agency Direkt