RE: RNS - Neset Kockar increased again1 Aug 2019 18:34
Here's another which had to be translated, this isn't as good reading...we need to be cautious.
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Thomas Cook Group Plc shares rose 60 percent in two days after investment from the Turkish company.
Stocks of British tour operator Thomas Cook, which is under debt burden, are expected to be intensely diluted with the recovery plan from the Fosun Group of China, the highest level of three weeks, with investors absorbing the news of 6.7% share purchase by tourism investor Neset Koçkar.
According to Shore Capital analyst Greg Johnson, the price increase shows that shareholders still think that the current stock is still worth some, but the Fosun agreement can completely eliminate that value.
Until the last rally, London-based Thomas Cook's shares were falling, despite Fosun's announcement that he was negotiating to take part in a £ 750 million ($ 909 million) financing project in mid-July. This will allow the Chinese investor to take control of the company by swapping bonds and creating new shares.
Johnson, "Anex Tour's founder Koçkar realized this acquisition is a temporary investment or take part in the company's salvation will show time," he said.