Tui, one of world’s largest travel firms, has said it is considering quitting the London Stock Exchange in favour of a listing in Frankfurt.
The holiday giant said some shareholders had asked whether its UK listing was “optimal and advantageous”.
The move would deal another blow to London’s attractiveness as a base for big firms, with several opting to list on exchanges overseas in recent years.
The move would deal another blow to London’s attractiveness as a base for big firms, with several opting to list on exchanges overseas in recent years.
The firm, which has had its main listing on the London Stock Exchange since 2014, already has a secondary listing in Frankfurt.
Bosses said they would consider an “upgrade” to list on Germany’s main stock exchange at the group’s annual general meeting in February, but added delisting from London would require the backing of at least 75% of shareholders.
Chief executive Sebastian Ebel said the announcement had “no political background” – suggesting any potential de-listing would not be due to Brexit – adding that the British travel market was still the “most important”.
But such a move would add to concerns over London’s ability to attract big businesses after Britain’s biggest chip company, Arm Holdings, listed its shares in New York earlier this year. Building supplies firm CRH and plumbing equipment company Ferguson also shifted listings to the US.
Tui, one of world’s largest travel firms, has said it is considering quitting the London Stock Exchange in favour of a listing in Frankfurt.
The move would deal another blow to London’s attractiveness as a base for big firms, with several opting to list on exchanges overseas in recent years.
The holiday giant said some shareholders had asked whether its UK listing was “optimal and advantageous”.
The firm, which has had its main listing on the London Stock Exchange since 2014, already has a secondary listing in Frankfurt.
The move would deal another blow to London’s attractiveness as a base for big firms, with several opting to list on exchanges overseas in recent years.
The move would deal another blow to London’s attractiveness as a base for big firms, with several opting to list on exchanges overseas in recent years.
The firm, which has had its main listing on the London Stock Exchange since 2014, already has a secondary listing in Frankfurt.
Bosses said they would consider an “upgrade” to list on Germany’s main stock exchange at the group’s annual general meeting in February, but added delisting from London would require the backing of at least 75% of shareholders.
Chief executive Sebastian Ebel said the announcement had “no political background” – suggesting any potential de-listing would not be due to Brexit – adding that the British travel market was still the “most important”.
But such a move would add to concerns over London’s ability to attract big businesses after Britain’s biggest chip company, Arm Holdings, listed its shares in New York earlier this year. Building supplies firm CRH and plumbing equipment company Ferguson also shifted listings to the US.
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