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TUI waves goodbye to London as shareholders back delisting

TUI AG (LSE: TUI) is set to delist from the London Stock Exchange after shareholders overwhelmingly voted in favour of the move on Tuesday. The Germany-based tourism giant secured approval from 98.35% of shareholders to …

TUI AG (LSE: TUI) is set to delist from the London Stock Exchange after shareholders overwhelmingly voted in favour of the move on Tuesday. The Germany-based tourism giant secured approval from 98.35% of shareholders to delist its shares in London while upgrading to a ‘Prime Standard’ listing in Frankfurt.

The holiday firm said the next step will be to start trading on the Prime Standard index from early April, describing the shareholder approval as “pleasing”. TUI believes the move will “centralise liquidity” while simplifying its structure.

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Earlier on Tuesday, TUI reported record first quarter financials, swinging to a small underlying profit and growing revenue 15% to €4.30 billion. It also reaffirmed guidance for this year of at least 10% revenue growth and 25% higher underlying EBIT.

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