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TUI could delist from London Stock Exchange
Travel firm TUI says it is mulling delisting from the London Stock Exchange.
It says some shareholders had questioned whether the LSE listing was ‘advantageous.’
It could instead go for a full listing in Frankfurt.
TUI could put the question to a shareholder vote next year.
Although it has listed on the London Sock Exchange for nearly 20 years, it already has a secondary listing in Frankfurt.
A London delisting would need the support of at least 75% of shareholders.
CEO Sebastian Ebel said it is not a result of Brexit or any other political issue.
He said the UK is still a key market for the business.
TUI CFO, Mathias Kiep said about 75% of the company’s shares are traded in Germany.
The TUI Group surpassed revenues of €20 billion for the first time for the full year, and TUI UK contributed a €71 million profit.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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