LONDON, Nov 15 (Reuters) - Britain's business minister has
welcomed a decision by Royal Dutch Shell to scrap its
dual share system and move its tax residence to the UK, saying
it is a vote of confidence in the national economy.
Shell said earlier on Monday it would scrap its dual share
system in favour of a single class of shares to boost
shareholder payouts and simplify its structure, as the energy
giant battles calls from an activist investor to split up.
"Welcome news Shell is proposing to relocate its Group HQ to
the United Kingdom as part of their plans to accelerate the
transition to clean energy," Kwasi Kwarteng said on Twitter.
"A clear vote of confidence in the British economy as we
work to strengthen competitiveness, attract investment and
create jobs."
(Reporting by Kate Holton; Editing by Alistair Smout)