German travel giant TUI is not affected by potential sanctions against oligarch Alexey Mordashov, who owns a third of the company, says Adam Györki, communications manager at TUI.
On Tuesday, TT reported that German travel giant TUI's largest individual shareholder, oligarch Alexey Mordashov, has been placed on the EU's list of Russian individuals who may be subject to sanctions.
How are the sanctions against Alexey Mordashov coming? to affect travelers who have booked with TUI?
”"We are not affected by the sanctions at all. We are a German listed company and we have our headquarters in Germany. The majority of our shareholders are Europeans, Americans or international funds. Then we have Alexey who owns some of the shares in TUI, but the company is not affected by the sanctions," says Adam Györki.
TT has previously reported that the company's CEO Fritz Joussen wrote in an email to staff that it will not cause the company any "long-term negative consequences" if the sanctions come into effect.
TUI's shares fell by 4.4 percent in Frankfurt on Tuesday.
Source: DI.SE
