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Fosun exec does not rule out buying Thomas Cook

2019/5/28 16:39:37
Chinese conglomerate Fosun International, which has a minority stake in Thomas Cook, has been rumored to be a buyer of the London-based travel giant. The CEO of Fosun Tourism Group did not deny that scenario on Monday during Skift Forum Asia in Singapore.

When pressed on a potential acquisition, Qian Jiannong, who is also senior vice president of Fosun International, said Fosun remains interested in Thomas Cook, particularly with a push into European tourism. He did not deny a full-blown acquisition, but would not elaborate further. “I can’t tell you more,” Qian said.

Fosun’s strategy is to seek opportunities to accommodate Chinese travelers in Europe beyond the major cities, which are the destinations for 80 percent of Chinese tourists, said Qian. Fosun derives 40 percent of its revenues from Europe, 50 percent in Asia, and the remainder in the U.S., he added.

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