Ta-ta, Tui? Europe’s largest tour operator, Tui, is contemplating delisting from the London stock market and flying solo in Germany instead. Is this another hammer-blow to the UK market – on top of BHP Billiton (gone to Australia), Arm Holdings (opted to list in the US), Ferguson (an escaper to the US) and all the rest?
Well, it’s obviously not terrific news for London that a FTSE 250 firm with a dual listing could choose to simplify trading in its shares elsewhere. But let’s have a sense of perspective on this one. Outbound tourism from the UK may be Tui’s most important market, but the firm itself has felt increasingly German, corporately speaking, for a while.
