The co-founder and chairman of Chinese conglomerate Fosun has made good on his promise to take advantage of post-Brexit volatility by upping his stake in Thomas Cook.
Companies with links to Guo Guangchang now own 8.2% of the tour operator, having taken an initial 5% stake in March 2015 for £92 million. At the time it was suggested that Fosun would look to build its stake to around 10%.
Speaking at a Reuters event earlier this week, Guo said the firm would look for opportunities in the UK and Europe.
"For a value investor, volatility is a friend not an enemy. Market volatility and panic will probably bring better investment opportunities. So we are increasingly looking for development opportunities in Europe, and particularly in the UK," he said.
Fosun previously took its shareholding in Thomas Cook above 7% at the start of June.