Unilever has scrapped its plan to move its headquarters to the Netherlands, after growing investor concern about the plan.
Aviva Investors had said the move could force UK shareholders to sell their shares and offered "no upside".
Unilever, which makes Marmite and Dove soap, had been relocating to simplify its corporate structure.
But it said it recognised "the proposal has not received support from a significant group of shareholders".
However, chairman Marijn Dekkers said that the board continued to believe that simplifying Unilever's structure was in the firm's best interests.
"The board will now consider its next steps and will continue to engage with our shareholders," the firm said in a statement.
Unilever is to keep its listing on the London Stock Exchange, a spokeswoman said.