Just Eat Takeaway.com removed from FTSE as it loses UK nationality
The company was bought by its Amsterdam-listed peer Takeaway.com early last year and the companies hinted they would de-list from the Dutch exchange.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.One of the UK’s largest takeaway companies will no longer be listed on London’s top index as judges decided that Just Eat Takeaway.com is no longer a British company.
FTSE Russell said that it would remove Just Eat Takeaway.com from the FTSE 100 index due to its dual listing in London and Amsterdam
When London-listed Just Eat was bought by its Amsterdam-listed peer Takeaway.com early last year, the two companies indicated they would de-list from the Dutch exchange and move to London.
However, the company is still reviewing what to do and has already warned shareholders that this means it is removed from the FTSE indexes.
Its removal will leave space for one of Morrisons and Meggitt, which will be promoted to the index after their shares recently soared due to takeover bids.
But both are likely to see their stays in the top league end fairly soon. If the takeovers for the firms are approved they will be taken private, so no longer be eligible for a stock exchange listing.
The two companies passed Weir Group, which went in the other direction down to the FTSE 250.
ITV had been widely tipped to crash out of the index after a yo-yo ride in the last year.
The broadcaster was relegated in September last year, promoted again in June. But despite a fall in its shares since then, it avoided rejoining the FTSE 250.
Companies that were promoted to the FTSE 250 were: Endeavour Mining, Darktrace, Bridgepoint, Blackrock Throgmorton Trust, Draper Esprit and Baltic Classifieds.
They were passed in the other direction by Wickes, Avon Protection, Temple Bar Investment Trust, Civitas Social Housing and Tullow Oil.