Thomas Cook in talks over a sale of tour operator arm

Thomas Cook has confirmed that they are in talks with Chinese conglomerate Fosun, over a potential sale of their tour operating business.

Over the weekend reports said that Cook’s largest shareholder was eyeing up the deal which would mean a complete break-up of the travel company.

Fosun who owns the Club Med brand said there is “no certainty” that their preliminary approach will result in a formal offer.

In early morning trading shares in Thomas Cook jumped by 22% over the news.