TUI bows out of M&A action
11 JUN 2018
TUI [LON:TUI], the Germany-headquartered travel and holidays group, is not planning to participate in the consolidation of the sector, The Daily Express reported.
Chairman Klaus Mangold stated that mergers and acquisitions are off the table for TUI and although the market is being “carefully” monitored, the Anglo-German company does not want to play an active part.
TUI has no worries about its rivals becoming stronger via deals and seeks to improve its own competitiveness as it moves forward, Mangold said.