Tui

CKhalvashi

Westin said:

It seems the TUI majority shareholder simply shuffled his share holding investment around between companies he owns in Cyprus and the British Virgin Islands.  I had thought this was exactly what the sanctions were meant to stop.
https://www.bloomberg.com/news/articles/2022-03-05/russian-tycoon-mordashov-transfers-1-4-billion-tui-stake 

I was under the impression that the shares in question were blocked and nothing can be done with them without a court order.

If they're not, TUI are likely to have huge problems renewing their Ukrainian (and possibly EU/UK) licenses, and they're quite a large operator in Ukraine.

Westin

The TUI brand in Russia and Ukraine was licenced to a 3rd party after TUI ended direct operations a while back. Last week they withdraw from that brand licence agreement and the TUI name can no longer be used in several countries, Russia being one, but also Ukraine.
https://www.theguardian.com/business/2022/mar/10/tui-group-terminates-branding-deal-russia-alexei-mordashov-eu-sanctions 

CKhalvashi

Westin said:

The TUI brand in Russia and Ukraine was licenced to a 3rd party after TUI ended direct operations a while back. Last week they withdraw from that brand licence agreement and the TUI name can no longer be used in several countries, Russia being one, but also Ukraine.
https://www.theguardian.com/business/2022/mar/10/tui-group-terminates-branding-deal-russia-alexei-mordashov-eu-sanctions 

Thanks Westin, I'd missed that one!