Boots float in London still viable, says owner

The American owner of Boots said yesterday a potential £7bn listing of the chemist on the London stock market was still on the table. 

Tim Wentworth, chief executive of Walgreens Boots Alliance, added that he was ‘evaluating all strategic options’ to ‘drive sustainable long-term shareholder value’. 

Among the possibilities is listing on the London Stock Exchange (LSE) in what would be a huge shot in the arm for the City. 

His comments follow reports in December that Walgreens had resumed discussions to sell the British chain.

It could be valued at £7bn, the same price tag the business was put up for sale with in 2022 before Walgreens backtracked a few months later.

 It blamed an ‘unexpected and dramatic change’ in market conditions as its reason for ditching the sale. 

Private equity giants Apollo, TDR Capital and Sycamore made pitches but Walgreens later said no one made an adequate offer. 

Should Boots, which began as a family herbal medicine shop in Nottingham in 1849, return to listing in London, it would be a desperately needed vote of confidence for UK markets. B

oots cheered a 9.8pc increase in sales in the three months to the end of November. ÷ TUI bosses have called on shareholders to back plans to leave the London Stock Exchange.

The travel group, listed in both London and Frankfurt, has recommended investors vote in favour of simplifying its structure. 

The LSE has seen a flurry of companies quit in the past year. Shareholders vote on the proposal on February 13