The German government has thrown its support behind keeping TUI AG's container shipping business Hapag-Lloyd in German hands, a government official was quoted as saying by a newspaper on Saturday. "The German government welcomes the efforts of the Hamburg investors and the Hamburg Senate to keep the shipping firm anchored in Germany," Dagmar Woehrl, the government's coordinator for the maritime economy was quoted as saying in the Sueddeutsche Zeitung newspaper on Saturday.
TUI's plans to sell Hapag-Lloyd to focus on tourism have triggered a campaign to keep the business in the northern German city of Hamburg.
TUI Chief Executive Michael Frenzel toured Asia last month to market the business, which analysts say could be worth up to 5 billion euros ($7.85 billion).
The paper said Woehrl was concerned about possible job losses if a foreign player buys Hapag-Lloyd, which is the world's fifth-biggest container shipping business.
"This would not be in the federal government's interest," Woehrl said, adding, however, that the government did not plan to take a stake in the shipper.
Hapag has 140 ships and generated six billion euros in sales last year.
Reuters reported last month that Singapore's Neptune Orient Lines, the world's eighth-biggest container shipping firm, was looking to raise $5-$7 billion in loans to help fund a bid for Hapag-Lloyd.
Shares in NOL fell to a 14-week low this week on what dealers said were renewed concerns that it might overpay in a bid for the German shipper.
TUI's plans to sell Hapag-Lloyd to focus on tourism have triggered a campaign to keep the business in the northern German city of Hamburg.
TUI Chief Executive Michael Frenzel toured Asia last month to market the business, which analysts say could be worth up to 5 billion euros ($7.85 billion).
The paper said Woehrl was concerned about possible job losses if a foreign player buys Hapag-Lloyd, which is the world's fifth-biggest container shipping business.
"This would not be in the federal government's interest," Woehrl said, adding, however, that the government did not plan to take a stake in the shipper.
Hapag has 140 ships and generated six billion euros in sales last year.
Reuters reported last month that Singapore's Neptune Orient Lines, the world's eighth-biggest container shipping firm, was looking to raise $5-$7 billion in loans to help fund a bid for Hapag-Lloyd.
Shares in NOL fell to a 14-week low this week on what dealers said were renewed concerns that it might overpay in a bid for the German shipper.