Chinese conglomerate Fosun has raised its stake in Thomas Cook Group to 11%.
Fosun is part of the Shanghai-based group backed by billionaire Guo Guangchang.
Yesterday’s move followed the shareholding in Europe’s second largest travel group increasing to by 1% to 10% in March.
Club Med owner Fosun took an initial 5% shareholding in Thomas Cook for £91.8 million two years ago.
That initial strategic partnership deal was seen as paving the way for Thomas Cook to access the fast-growing Chinese tourism market over the medium term.
The latest disclosure came as investment bank JP Morgan said Thomas Cook and rival Tui could benefit from a comeback by Turkey as a holiday destination.
It described the possible revival of the country, which saw tourism slump following terrorist attacks and a failed coup, as being “a realistic scenario”.
Analyst Jaafar Mestari said: “We would expect both Tui and Thomas Cook to start marketing the destination more aggressively into 2018.”
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