Tui Group terminates branding deal with Tui Russia
by Jasper Jolly from World news | The Guardian on (#5WYW3)
Holiday firm axes deal allowing Alexei Mordashov to use its name after oligarch was sanctioned by EU
Tui, Europe's largest holiday company, has cancelled a deal allowing the Russian oligarch Alexei Mordashov to use its name after the billionaire was sanctioned by the EU after Russia's invasion of Ukraine.
Tui Russia was established in 2009 as a joint venture with Mordashov's Severgroup to expand the business in Russia and Ukraine. Mordashov had invested in Tui and joined its supervisory board but he was forced to resign last week after the sanctions were revealed.
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