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The 'Warren Buffett of China' could lose $1.5 billion in Thomas Cook's bankruptcy
- The company's largest shareholder, with an 18% stake, is China-based Fosun International and its chairman Guo Guangchang.
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September 23, 2019 - by Graham Rapier for businessinsider.com
- Thomas Cook, the storied British travel company and airline, declared bankruptcy early Monday morning.
- The company's largest shareholder, with an 18% stake, is China-based Fosun International and its chairman Guo Guangchang.
- The 52-year-old has sought to emulate Warren Buffett with his investment style, but he could take a massive hit from Thomas
- Cook's bankruptcy.
When Thomas Cook, the storied British travel agency that filed for bankruptcy on Monday, needed financial help in recent years, it turned to the Chinese investment firm Fosun International.
Since 2015, the Shanghai-based conglomerate and its chairman, Guo Guangchang, have built up a controlling stake in Thomas Cook, The Guardian reported. The stake was worth as much as $1.5 billion in recent weeks, according to regulatory filings...
Read more https://www.businessinsider.com/thomas-cook-bankruptcy-guo-guangchang-warren-buffett-of-china-2019-9
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