Mordashov plans to increase his stake in TUI to 30%
The Russian billionaire Alexei Mordashov plans to significantly increase its stake in Germany tourist holding TUI, Reuters reported, citing information from Germany antitrust regulators. According to unofficial information from a source close to the businessman, Mordashov (owner of Severstal) plans to acquire 30% of TUI, as this time is not yet out. Russia’s S-Group, which is controlled by Mordashov, began buying shares of the Germany tour in 2007, gradually became one of the largest shareholders with a share of 18%. Another of the largest shareholders – Norwegian investor John Fredriksan, meanwhile, cut its stake in TUI from 19% to 15.7%, but information from his agent he did not intend to sell its shares of TUI to Mordashov. Russian media, recalling that during the ongoing conflict over a year between Fredriksan and senior management of TUI on strategy development and corporate governance, management Mordashov has defended the attacks on the Norwegian investor. TUI Holding owns 141 vessels and operates 237 hotels.
The shares of the company from early July until yesterday have increased by around 10%.
Tags: Alexei Mordashov, billionaire, Mordashov, Severstal, TUI