S-Group Travel, owned by Alexei Mordachov, has acquired a 20% stake in German group, TUI Travel, Reuters reports. The deal has increased S-Group Travel’s stake in TUI to 20.45% from 15%. S-Group Travel has acquired approval from German antitrust authorities to further increase its stake in TUI to over 25%. TUI is seeking to focus on its tourism operations, together with London-listed TUI.

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