TUI AG CEO says no plans for merger with TUI Travel
FRANKFURT May 15 (Reuters) - TUI AG has no plans to merge with London-listed unit TUI Travel, the German company's chief executive said on Wednesday.
"The oneTUI programme is designed to get more out of the existing structure of the group. It's not an M&A programme," Friedrich Joussen told reporters after the group published a plan detailing a return to paying dividends and cutting costs.
TUI AG had already looked at merging with TUI Travel but decided against it at the start of this year.
Joussen also said the group was still looking at ways to exit its stake in container shipping firm Hapag-Lloyd, including via an IPO or sale, but that it was under no pressure.
- Tweet this
- Share this
- Digg this
- Pro-independence Scots narrow gap to victory ahead of vote - poll
- Kremlin adviser says military strategy to reflect Ukraine crisis, NATO expansion - RIA
- Low-carb diets may beat low-fat options for weight loss, heart health
- Europe drafts emergency energy plan with eye on Russia gas shut-down
- Manchester United top deadline-day big spenders