June 14, 2018 / 8:18 AM / 5 months ago

Unilever signals unlikely to stay in FTSE after Dutch move

LONDON, June 14 (Reuters) - Consumer goods group Unilever said it is “extremely unlikely” to stay in Britain’s blue-chip FTSE 100 index 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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