Tour company Thomas Cook collapses, stranding travelers

The collapse of Thomas Cook, an iconic UK company, is having ripple effects in Asia.

Shares in Chinese firm Fosun Tourism dropped more than 5% in early morning trade in Hong Kong. Fosun Tourism’s parent company, Fosun International, is one of China’s biggest conglomerates -- it owns all-inclusive holiday firm Club Med.

Billionaire founder Guo Guangchang is Thomas Cook’s is the largest stakeholder of Thomas Cook, according to data provider Refinitiv.

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