EU imposes sanctions on TUI shareholder Alexey Mordashov

Alexey Mordashov, who owns 34% of the share capital of TUI AG, has been sanctioned by the European Union (EU) in an attempt to prevent his disposal of his shares in the holiday company. The sanctions  deprive Mordashov of access to the shares he holds in TUI or from realising any proceeds or profits from his investment. TUI stated that this action has no impact on the company, customers and employees. Mordashov has resigned from TUI’s Supervisory Board with immediate effect. Mordashov has been a shareholder in TUI AG for around 15 years. Two thirds of the shareholders (66%) are private