The owner of "Severstal" Alexey Mordashov has increased his share of stocks in TUI Group
Russian investor Alexei Mordashov, the chairman of the board of directors of "Severstal", has expanded his participation in the largest travel company in Europe. Only for the last two weeks the oligarch bought shares in TUI Group in the amount of approximately 24 million Euro. This was reported by the German newspaper Bild January 11. Alexei Mordashov bought nearly 1.8 million shares, increasing his stake in the tourist company TUI Group from 19 to 21%. Observers note, that the investor seeks to get back its former blocking stake of 25% plus one share, which was reduced after the complete merger of the German TUI AG with the British TUI Travel. The observers note that, apparently, the oligarch plans to further develop the tourism business. Earlier, in 2014, he announced about ambitious task - to lead TUI on the leading positions in Russia over three years. The experts expect, that the next year could be decisive for the Russian tour operator division. It is expected, that to overcome the decline in profits the supplier will increase volumes at domestic destinations and offer tours on the basis of charters at competitive prices.