Travel giant considers leaving London Stock Exchange

Tui, one of world's largest travel firms, has said it is considering quitting the London Stock Exchange in favour of a listing in Frankfurt.

The holiday giant said some shareholders had asked whether its UK listing was "optimal and advantageous".

The move would be another blow to London's attractiveness as a place for big firms to list their shares.

TUI said it was considering putting the plan to a shareholder vote next year.

The firm, which is German, has had its main listing on the London Stock Exchange since 2014, but also has a secondary listing on the Frankfurt Stock Exchange.

With a market value £3.2bn, the business owns 400 hotels, 16 cruise ships, five airlines with 130 airplanes and 1,200 travel agencies, according to its website.

Tui said in its full-year results that it was looking at whether simplifying its listing structure would be beneficial for the firm following changes and mergers within the group.

It added there had been "a notable liquidity migration" from the UK to German stock markets in the past four years and the move could "potentially enhance" the profile of Tui's shares.

In addition, it said it could also help the firm deal with European Union regulations on airline ownership and cut costs.

Bosses said they would consider an "upgrade" to list on Germany's main stock exchange in Frankfurt, but that it would require the backing of at least 75% of shareholders.