TUI up on Hapag-Lloyd sale talk

TUI Travel 's shares rose more than 3% today after suggestions that its largest shareholder TUI AG could divest its stake in Hapag-Lloyd and buy more of TUI Travel, following reports in the German weekend press. German newspaper Welt Am Sonntag said TUI is in talks with investor John Fredriksen over its stake in the shipyard firm, Reuters reported. TUI owns a 43% stake in Hapag-Lloyd, and it could use the cash to buy out more of TUI Travel, the newswire said. The shares were the biggest riser on the FTSE 100, up 3.2%, or by 6.6p, to 207.4p.