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Tui plans to exit London Stock Exchange


pellinore

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I can't imagine why companies are leaving the City, after all we are the English-speaking gateway to Europe. Oh, hang on...

London’s capital markets could be set for another damaging hit as Tui Group’s shareholders prepare to vote on the company’s plans to delist from the London Stock Exchange.

Europe’s biggest travel operator, which is listed in both London and Frankfurt, said in December it was considering delisting from London’s premier index.

Two shareholder advisory groups have swung behind Tui’s top team, the advisory group Pirc and the US-based ISS. The ISS noted 77 per cent of Tui’s shares were listed on its German register last November, as opposed to 10 per cent in London.

If shareholders approve the plans, it would be seen as another blow to the already embattled bourse. Gambling giant Flutter completed a secondary listing in New York last year, with many believing it to be the precursor to a full relocation.

YouGov and Plus500, two staples of the London market, have also considered switching to list in the Big Apple.

Tui shareholders to vote on travel giant’s plans to exit London Stock Exchange (yahoo.com)

Edited by pellinore
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2 hours ago, pellinore said:

I can't imagine why companies are leaving the City, after all we are the English-speaking gateway to Europe. Oh, hang on...

London’s capital markets could be set for another damaging hit as Tui Group’s shareholders prepare to vote on the company’s plans to delist from the London Stock Exchange.

Europe’s biggest travel operator, which is listed in both London and Frankfurt, said in December it was considering delisting from London’s premier index.

Two shareholder advisory groups have swung behind Tui’s top team, the advisory group Pirc and the US-based ISS. The ISS noted 77 per cent of Tui’s shares were listed on its German register last November, as opposed to 10 per cent in London.

If shareholders approve the plans, it would be seen as another blow to the already embattled bourse. Gambling giant Flutter completed a secondary listing in New York last year, with many believing it to be the precursor to a full relocation.

YouGov and Plus500, two staples of the London market, have also considered switching to list in the Big Apple.

Tui shareholders to vote on travel giant’s plans to exit London Stock Exchange (yahoo.com)

And just for balance, for those of us that don't actually hate on their own country and gleefully sneer at anything negative and immediately blame it on Brexit, from the same week, oil giant Exxon Mobil has instructed its traders in Brussels that their jobs are all relocating ... to London.

Quote: "London provides better proximity to trading activities, trading talent pool, and will support our evolution as a trading organization"

Couldn't possibly have found it in yourself to mention that inconvenient nugget of positive news for the UK (your own country) could you pellinore. 🤦👇👇👇👇

https://www.energyvoice.com/oilandgas/547524/exxon-asks-traders-in-brussels-to-move-to-london-amid-expansion/

Edited by Destination Unknown
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