TUI Travel starts trading today
The newly-merged TUI and First Choice group begins trading on the London Stock Exchange today.
With the merger now complete, First Choice Holidays PLC’s listing was cancelled at this morning and the ordinary shares of the new combined group, TUI Travel PLC, were admitted to the Official List of the UK Listing Authority.
Dr Michael Frenzel, chairman of TUI Travel PLC said: “TUI Travel has tremendous opportunities ahead of it. We will bring together some of the best known brands in leisure travel coupled with excellent management expertise. TUI Travel shall be actively shaping the future of the tourism business.”
Peter Long, chief executive of the new group, added: “The creation of TUI Travel PLC, one of the world’s leading leisure travel companies, represents real growth opportunities for us as a group.
“Not only will our shareholders benefit from efficiencies but we are also well positioned to deliver strong organic and acquisition led growth.”
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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