NOL resumes talks to buy Hapag-Lloyd-paper

Container shipping group Neptune Orient Lines (NOL) has resumed talks about buying German rival Hapag-Lloyd, German paper Die Welt reported on Saturday without identifying its sources, according to Reuters.

NOL had broken off acquisition talks in 2008 after failing to agree on a price for Hapag-Lloyd, which is owned by a consortium of Hamburg-based investors and tourism group TUI. TUI is looking to exit its 38% stake to focus solely on its tourism business.

Die Welt said NOL was in contact with TUI management, with more talks planned for January and a concrete offer expected early next year.