TUI shareholders have voted to move the company's London Stock Exchange listing to Frankfurt, citing a shift in liquidity and ownership structure. This move comes as London has experienced a series of de-listings and high-profile IPO snubs, with some analysts cautioning against writing off the UK capital despite the challenges. While London has seen a decline in listings, it remains the largest exchange in Europe and has fared better in 2023 compared to other European exchanges.
Tui, one of the world's largest tour operators, is considering leaving the London Stock Exchange due to a significant share of its trading migrating from the UK to Germany. The German company, which is dual-listed in London and Frankfurt, stated that a single listing in Frankfurt could centralize liquidity, provide a clearer investment profile, and reduce costs. The potential delisting would be another blow to the London Stock Exchange, which has seen companies move their primary listings to New York in recent years. Tui's decision will be discussed at the annual shareholder meeting in February.
German travel group Tui saw its shares rise by around 9% after reporting a 139% increase in underlying earnings before interest and taxes (EBIT) for the full year. The company also forecasted a 25% jump in operating profit for 2024. Tui's board is considering delisting from the London Stock Exchange and upgrading to a prime standard listing in Frankfurt, citing potential benefits and reduced costs. The decision will be discussed at the annual general meeting in February and would require 75% shareholder approval.
Two blind women were escorted off a P&O Cruises ship due to ‘health and safety’ concerns, despite the company being aware of their visual impairments at the time of booking. The incident has sparked a debate about the rights of individuals with disabilities and the responsibilities of service providers. P&O Cruises has apologized and offered a full refund for the holiday, including any travel expenses incurred.
