Tui considers delisting from London Stock Exchange, consolidating in German market
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Tui, Europe's largest tour operator, is considering delisting from the London Stock Exchange and consolidating in Germany instead, where most of its shares are held.
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While not positive for London, Tui has felt increasingly German corporately for a while, especially after receiving German state aid during the pandemic.
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Delisting would simplify operations and reduce expenses, but would require 75% shareholder approval, which may be hard given some frozen Russian ownership.
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London's stock market struggles with lack of liquidity and high stamp duty compared to the US, along with poor performance of many recent IPOs.
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However, London has still attracted some major unified listings like Shell and Relx recently; the bigger issue is the lack of interesting UK startups and funding.