Business

Breaking News: Europes Leading Tour Company Considers Exiting London Stock Exchange

Tui, one of the world’s largest tour operators, is considering leaving the London Stock Exchange in a move that could have significant implications for the future of the exchange. The company is currently dual-listed in London and Frankfurt, but shareholders have approached the board to discuss the potential benefits of delisting from the London Stock Exchange.

Tui highlights several advantages of a single listing in Frankfurt, including centralized liquidity, a clearer investment profile, and cost reductions. The board is now considering whether to hold a vote on the delisting at their annual shareholder meeting in February.

This announcement comes amidst concerns about the future of the London Stock Exchange, as several companies have recently chosen to move their primary listings to New York or go public on Wall Street. If Tui were to delist from London, it would be another blow to the struggling exchange, which has seen an exodus of companies and weak performance of London-listed stocks.

Tui, headquartered in Hanover, owns a wide range of assets in the travel industry, including hotels, cruise ships, airlines, and travel agencies. Despite concerns about its debt, the company reported strong financial performance, with revenue reaching €20.7 billion ($22.3 billion) for the year to September 30, a 25% increase compared to the previous year. Tui expects robust growth in market share, sales, and profit for the current financial year.

Following the announcement of the potential delisting, Tui’s shares gained almost 10% in London. However, the company’s shares are still down about 28% for the year, largely due to concerns about its debt. Nonetheless, Tui has managed to reduce its year-end net debt to €2.1 billion ($2.3 billion), which is €1.3 billion ($1.4 billion) less than the previous year.

See also  Caroline Ellisons Testimony on Sam Bankman-Frieds Alleged Crimes - The News Teller

The possible departure of Tui from the London Stock Exchange raises questions about the exchange’s ability to retain major players and maintain its position as a global financial hub. The outcome of the board’s vote at the annual shareholder meeting in February will be closely watched by investors and industry experts alike.

Earl Warner

"Devoted bacon guru. Award-winning explorer. Internet junkie. Web lover."

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close