Neptune Orient Lines (NOL) has denied German media reports that it is bidding for a stake in competitor Hapag-Lloyd, Seatrade Asia online reports. “NOL wishes to state that currently, it is not making another bid for a stake in Hapag-
Lloyd,” the company said in a brief statement to the Singapore Exchange. The Singapore-headquartered shipping company suspended its shares before trading started on Monday after reports of its interest in Hapag-Lloyd appeared in the local press. “NOL evaluates investment opportunities from time to time and will make the necessary announcements when appropriate,” the company added.
German newspaper Die Welt reported at the weekend that NOL was in contact with TUI management over acquiring its 38% stake in Hapag-Lloyd, with more talks planned for January and a concrete offer expected early next year.
Lloyd,” the company said in a brief statement to the Singapore Exchange. The Singapore-headquartered shipping company suspended its shares before trading started on Monday after reports of its interest in Hapag-Lloyd appeared in the local press. “NOL evaluates investment opportunities from time to time and will make the necessary announcements when appropriate,” the company added.
German newspaper Die Welt reported at the weekend that NOL was in contact with TUI management over acquiring its 38% stake in Hapag-Lloyd, with more talks planned for January and a concrete offer expected early next year.