Jun 14, 2018
Unilever says shares ‘extremely unlikely’ to stay in FTSE index
Anglo-Dutch consumer goods group Unilever has said its plan to end its dual headquarters structure and move its main base to the Netherlands means its shares are unlikely to stay in Britain's FTSE 100 index. The Marmite-to-Dove shampoo maker's chief financial officer Graeme Pitkethly told a conference hosted by Deutsche Bank on Thursday that after "Engaging very extensively" with listings group FTSE Russell, the company's new shares were "Extremely unlikely" to be included in the FTSE UK series, Reuters reported. Unilever said in March that it would shift its headquarters to the Netherlands, breaking a near century-old structure of running the company from both the UK and European mainland and providing a setback for Theresa May's pledge that it will be business as usual after Brexit. Analysts had already warned that a move of Unilever's legal base to Rotterdam had made it uncertain whether the group remain a FTSE 100 company. Some top Unilever shareholders have expressed disquiet over the decision.
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