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Thomas Cook shares dive 75% on news of bank talks

Shares in Thomas Cook have closed down 75% after it announced it was in talks with banks about increasing the amount of money it can borrow.

The travel firm said it had seen a "deterioration of trading", due to political unrest in Egypt and Tunisia and floods in Thailand.

It also said it would delay releasing its full year results until it had concluded the discussions.

Robert Peston reports.

  • 22 Nov 2011