The Greek energy magnate calls London the most important financial center in Europe
A Greek energy magnate called London Europe’s top financial center as he presented plans to list his company’s shares on the British stock market.
In a show of confidence in the City and Brexit Britain, Evangelos Mytilineos, CEO of industrial conglomerate Mytilineos, threw his support behind the capital’s long-term prospects.
When asked why he was considering a multi-billion pound listing in Britain, he said: “We think one of the main reasons why we prefer the London Stock Exchange, which is not a final decision, is that we think the LSE is the worst.
‘We see the LSE rising in the coming years. We are confident that London will continue to be Europe’s leading financial center for years to come.”
The comments on BBC Radio 4 were a welcome boost to the stock market, which is facing an exodus of companies.
Boost: In a show of confidence in the City and Brexit Britain, Evangelos Mytilineos threw his weight behind the capital’s long-term prospects
Construction company CRH, plumbing group Ferguson and travel agency Tui have all moved their listings out of Britain.
And Paddy Power owner Flutter will ask shareholders next week to vote on whether to move its primary listing to the US.
Mytilineos, 69, noted his company’s close ties to Britain, having built both solar farms and infrastructure for the National Grid. The company, which is valued at almost £4.5 billion, plans to make its debut on the London stock market in the next 12 to 18 months, Mytilineos said.
The company will also maintain its listing in Athens, where its shares have been traded for 30 years.