City AM – TUI gets set to exit London after shareholders back top brass
The back page of London business paper CITY AM says Tui shareholders have voted to ditch the London Stock Exchange in favour of Germany, in the latest major blow to the embattled bourse.
Shareholders voted 98.35 per cent in favour of the decision at the travel giant’s annual general meeting, having required 75 per cent backing for the plans to go through.
Dual-listed Tui announced in December it was considering exiting London’s premier index in favour of Frankfurt.
It’s board backed the plans in early January, citing significant “liquidity migration” from England to Germany in recent years, leaving the decision up to shareholders at today’s AGM.
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