Neptune Orient Lines, the Singapore-based container line, denied reports that it planned to bid for a stake in German shipping company Hapag-Lloyd AG, according to Bloomberg.
“NOL wishes to state that currently, it is not making another bid for a stake in Hapag-Lloyd,” it said in a stock exchange statement today. “NOL evaluates investment opportunities from time to time and will make the necessary announcements when appropriate.”
Die Welt reported Dec 3 that Neptune Orient had held discussions with TUI AG on buying the Hanover, Germany-based tourism company’s 38% stake in Hapag-Lloyd. TUI has previously said it plans to offload the holdings to focus on its holiday businesses.
Monday, December 5, 2011
NOL denies report of Hapag-Lloyd stake bid plans
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