Thomas Cook collapse tarnishes aura of China's 'Warren Buffett'

Travel firm's failure a cautionary tale in Fosun International's $18 billion expansion

20190925 Thomas Cook and fosun

Fosun was unable to prevent the collapse of travel operator Thomas Cook, in which it was the biggest shareholder. (Source photos from Reuters and Getty Images)

ERI SUGIURA, Nikkei staff writer

TOKYO -- The collapse of Thomas Cook Group on Monday not only left 600,000 stranded holidaymakers feeling miserable, it also damaged the reputation of "China's Warren Buffett."

Guo Guangchang chairs Fosun International, which together with its subsidiary is the largest shareholder in Thomas Cook. In the past several years the Chinese billionaire has overseen a roughly $18 billion acquisition spree, snapping up assets both at home and abroad -- from European resort operators to Cirque Soleil, Indian pharmaceutical interests and a Portuguese health care company.

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