TUI is considering moving its stock exchange listing from London to Frankfurt.
The operator said it had been approached by shareholders asking whether the current UK listing was ‘optimal and advantageous’.
It said the move to Germany could reduce costs and give ‘potential benefits to Euroepan Union airline ownership and control requirements’.
Speaking during a conference call to announce its full year financial results this week, Chief Financial Officer Mathias Kiep said: “For TUI, the liquidity has moved over the last months and years towards the German line, this is more than 75% now and also 75% of the shares are now held in Germany or in the German register.
“I think that is a significant change over the past and that is why shareholders actually approached us to ask whether we should still have this structure and on that basis we went to more shareholders to have a broader discussion.
“In the end it is a decision of shareholders.”
CEO Sebastian Ebel insisted the potential move, which will be put to shareholders at an annual general meeting, was not political, adding: “The British market is the most important market for us and therefore there is the full focus of potential improvements in the business here.”
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The operator said it had been approached by shareholders asking whether the current UK listing was ‘optimal and advantageous’.
It said the move to Germany could reduce costs and give ‘potential benefits to Euroepan Union airline ownership and control requirements’.
Speaking during a conference call to announce its full year financial results this week, Chief Financial Officer Mathias Kiep said: “For TUI, the liquidity has moved over the last months and years towards the German line, this is more than 75% now and also 75% of the shares are now held in Germany or in the German register.
“I think that is a significant change over the past and that is why shareholders actually approached us to ask whether we should still have this structure and on that basis we went to more shareholders to have a broader discussion.
“In the end it is a decision of shareholders.”
CEO Sebastian Ebel insisted the potential move, which will be put to shareholders at an annual general meeting, was not political, adding: “The British market is the most important market for us and therefore there is the full focus of potential improvements in the business here.”
The post TUI considers delisting from London Stock Exchange appeared first on Travel Gossip.
Continue reading...
