China's Fosun Tourism has made a preliminary approach to Thomas Cook to buy its tour operator business, sending shares in the struggling British travel group higher.
Thomas Cook said in a statement on Monday it was in talks with the Hong Kong-listed Fosun, its biggest shareholder, about the operations. It said there could be no certainty that the approach would result in a formal offer.
"The board will consider any potential offer alongside the other strategic options that it has, with the aim of maximising value for all its stakeholders," it said. Shares in Thomas Cook were up 12% in early trading.