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China's Fosun considers $940m rescue for Thomas Cook

Club Med operator thinks it can revamp iconic British tour company

TOKYO - China's Fosun Tourism Group is considering a combined 750 million-pound ($940 million) bailout for British global travel company Thomas Cook.

The travel arm of Chinese conglomerate Fosun International, which also owns the Club Med resort franchise, said Friday that it had received a proposal made by Thomas Cook in relation to a potential recapitalization and separation of the 178-year-old travel company.

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