, TUI Travel in merger negotiations with parent TUI AG
TUI Travel informed that it started merger negotiations with its German parent TUI AG. The merger is aimed at cutting costs and focusing mainly on tourism. Analysts estimate that the merger could bring as much as €100 million in savings. News on the merger talks between TUI Travel and TUI AG sent UK-listed comapny’s shares up approximately 4 percent, while shares of the German company jumped approximately 9 percent.
