Tui considers delisting from London

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Europe’s largest tour operator, Tui, is weighing delisting from the London Stock Exchange.

The company, which is listed in London and Frankfurt, on Wednesday said it had been approached by some investors to “discuss and understand” whether the current structure is “optimal and advantageous”. It said a significant part of the liquidity in the trading of its shares had migrated from the UK to Germany.

Among the potential advantages of the move, Tui said, would be “providing a clearer investment profile under a single listing” and “benefits to European Union airline ownership and control requirements”. It also cited lower costs.

The company, which has a market capitalisation of €3bn, stressed that no decision had yet been made, and that a motion on the delisting could be presented to its annual meeting in February.

Tui also said it expects its operating profit to increase by “at least” a quarter next year, adding to evidence that the post-pandemic travel boom is continuing, despite stubborn inflation and high interest rates.

This is a developing story