The largest group in the tourism sector worldwide, TUI Group, with a large presence in Lanzarote, is considering leaving the London Stock Exchange.
It will do so if it obtains the support of its shareholders to move all its activity to Frankfurt, according to the Hosteltur tourism news portal.
The different air divisions of TUI offer 27 weekly connections with the United Kingdom, 8 with Germany, 3 with Sweden and 2 with Belgium with Lanzarote. The German tour operator also works with more than 60 hotels on the island.
TUI currently has a secondary listing on the German stock exchange. The group's management has presented arguments in favor of this decision in the presentation this week of its results in the last financial year ended September 30.
Company sources say that this is a proposal to optimize the business and is not due to political reasons linked to Brexit.
TUI has been listed on the London Stock Exchange since 2014, following the merger between TUI Travel and TUI AG, which had been approved in October of that year.
The decision to leave this stock market will be submitted to the approval of all shareholders at the next General Meeting scheduled for the month of February.
