Thomas Cook shares climb 17% on takeover talk

Shares and bonds in Thomas Cook have rallied since a media report said the British travel company was approached by several parties about a possible takeover of its tour-operating unit or the entire business.

The report of takeover interest from private equity firms quelled worries about the world’s oldest tour operator’s £1.7bn (€1.9bn) of debt, which has wiped two-thirds off its market value over the past six months.