UK shareholders should vote against Flutter’s flight to the US | Nils Pratley

The dwindling band of UK loyalists should send a message that exiting to the US is not as easy as flicking a switch

Flutter, the FTSE 100 gambling firm that owns Paddy Power, Betfair and Sky Bet, has been teasing us for the past year about moving its primary share listing to the US “in due course”. Now, on the first day of New York trading in its shares in add-on secondary form, the company says it likes the place so much it wants to go all in.

Shareholders will vote in May on a proposal to relegate the London listing to secondary status, which would amount to making it virtually irrelevant, and adopt New York for the primary. The lure of membership of the S&P 500 index beats the (dwindling) prestige of the Footsie.

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from The Guardian https://ift.tt/fIjJV5M