TUI Group stated it has no immediate plans to acquire the remaining 45% of shares in TUI Travel (Reuters, 01-Sep-2010). The company confirmed that the further development of TUI’s tourism business is conditional on the sale of its remaining 43% stake in Hapag-Lloyd. A meeting of the company’s supervisory board is due next week “to discuss options for the tourism business”. TUI Travel shares have climbed sharply on the acquisition rumours.
2-Sep-2010 11:56 AM