TUI, a holding company with assets in the tourism and shipping, has rejected the proposal by Kuehne & Nagel International to sell TUI’s 10% stake in Hapag-Lloyd, a container shipping company, Capital Magazine reported.
Michael Frenzel, TUI’s head, said he would be willing to sell 43% of TUI’s share in large tranches, adding the chances for the sale will be greater if the Kuehne’s share in Hapag-Lloyd will be small.
Michael Frenzel, TUI’s head, said he would be willing to sell 43% of TUI’s share in large tranches, adding the chances for the sale will be greater if the Kuehne’s share in Hapag-Lloyd will be small.