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Thomas Cook to sell majority stake to China's Fosun

Troubled travel firm Thomas Cook says it has agreed a rescue deal with investor Fosun Tourism, its banks and a majority of its bondholders.
The UK tour operator said in July it was working to secure new investment from Fosun, a major shareholder.
The new deal would see the Chinese group take control of the business at the expense of other shareholders.
Fosun will put in £450m in return for at least 75% of the tour business and 25% of the group's airline.

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