Germany investigates £1bn Tui share transfer by sanctioned Russian oligarch

Alexei Mordashov sold most of 34% stake in world's biggest tourism operator to entity controlled by his wife

Germany is investigating deals under which most of the stake in Tui held by sanctioned Russian oligarch Alexei Mordashov was transferred to an entity controlled by his wife, Marina Mordashova, the world's biggest holiday company said on Friday.

The investigation comes after Tui was informed this week that Mordashova controls Ondero Ltd, which bought stakes in Mordashov's Unifirm Ltd, Tui's top shareholder, from two of his subsidiaries on 28 February.