Russian billionaire Alexei Mordashov plans to hike his stake in TUI AG to at least 10 pct and take a seat on the German company's supervisory board, Welt am Sonntag reported, citing sources within the financial industry.
He also aims to launch a tourism joint venture in Russia with TUI, and there have already been several meeting of the two parties' representatives, the newspaper said.
Mordashov, whose investment vehicle S-Group currently holds 5.02 pct of TUI, supports plans to split off TUI's shipping unit and focus the company entirely on tourism, Welt am Sonntag said.
Options for the Hapag-Lloyd shipping division include a spin-off, a sale or a merger with a competitor, after which TUI would retain a stake in the new entitity, it said.
But Norwegian shipowner John Frederiksen, who has been calling for a spin-off and separate stock market listing of Hapag-Lloyd, opposes a merger because TUI's partial ownership of the unit would still lead to a decrease in Hapag-Lloyd's value, it said.
TUI earlier this week said its supervisory board will discuss in a meeting tomorrow possible options for a split-off of Hapag-Lloyd.
He also aims to launch a tourism joint venture in Russia with TUI, and there have already been several meeting of the two parties' representatives, the newspaper said.
Mordashov, whose investment vehicle S-Group currently holds 5.02 pct of TUI, supports plans to split off TUI's shipping unit and focus the company entirely on tourism, Welt am Sonntag said.
Options for the Hapag-Lloyd shipping division include a spin-off, a sale or a merger with a competitor, after which TUI would retain a stake in the new entitity, it said.
But Norwegian shipowner John Frederiksen, who has been calling for a spin-off and separate stock market listing of Hapag-Lloyd, opposes a merger because TUI's partial ownership of the unit would still lead to a decrease in Hapag-Lloyd's value, it said.
TUI earlier this week said its supervisory board will discuss in a meeting tomorrow possible options for a split-off of Hapag-Lloyd.