Unilever signals unlikely to stay in FTSE after Dutch move

File photo of the logo of the Unilever group
FILE PHOTO: The logo of the Unilever group is seen at the Miko factory in Saint-Dizier, France, May 4, 2016. REUTERS/Philippe Wojazer/File Photo

June 14, 2018

LONDON (Reuters) – Consumer goods group Unilever <UNc.AS> <ULVR.L> said it is “extremely unlikely” to stay in Britain’s blue-chip FTSE 100 index <.FTSE> after ending its dual-headed structure and moving its headquarters to the Netherlands.

Speaking at a conference on Thursday hosted by Deutsche Bank, Chief Financial Officer Graeme Pitkethly said that after deep engagement with FTSE Russell, the company’s shares were unlikely to be listed in the UK index.

Pitkethly said Unilever understood its departure from the FTSE will have negative implications for some UK investors, but repeated that simplification of its structure was the best move for the company and shareholders as a whole.

He said he expects they will likely have increased weighting in the EuroStoxx index instead.

The move is on track to be completed this year, Pitkethly said.

(Reporting by Martinne Geller; Editing by Alexander Smith)

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