Tui AG denies claim it is to sell stake in Tui Travel

Tui AG denies claim it is to sell stake in Tui Travel

Tui AG has denied a German magazine report that it is considering selling its stake in UK-based Tui Travel.

It was suggested that Tui AG could use the proceeds from a sale to invest in its own tourism operations and make a payout to shareholders, Manager Magazin reported.

Tui AG owns 56.4% of Thomson and First Choice parent Tui Travel.

It had considered making an offer to buy out the remainder in order to expand its tourism activities, before deciding against it in January, saying a deal was not attractive at current share prices.

But Tui AG responded by saying it had no plans to reduce its shareholding in Tui Travel, according to Reuters.

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