TUI caught up in share probe

Travel Trade Gazette UK & Ireland, August, 2004

TUI AG, the German owner of Thomson Holidays and Lunn Poly, is at the centre of a share trading controversy on the Frankfurt Stock Exchange.

TUI AG shares have been among the best-performing shares on the German DAX index - the equivalent of the FTSE 100 - in the past month as speculation has increased about the sale of German bank WestLB's 31.3 per cent holding in the company.

Many analysts think the group could now be subject to a hostile takeover bid.

But the German financial regulator BaFin said this week it intended to examine the share tradings that have ramped up the TUI AG share price. It has not yet said it will launch a formal investigation, though.

The share price has slipped in recent days, but TUI AG still stands a good...

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