European leisure and transport firm TUI is mulling the full integration of its maritime transport unit Hapag-Lloyd into the parent group to protect it from hostile takeover bids, a press report said Monday.
TUI would also move its headquarters from the northern German city of Hanover to the port of Hamburg, where Hapag-Lloyd is based, the Financial Times Deutschland said.
"The main goal is to prevent a separation of maritime transport (activities) from the rest of the group," it quoted TUI boss Michael Frenzel as saying in a letter that called supervisory board members to a January 23 meeting.
If the plan is approved, it could end chronic speculation about a break-up of TUI, but disappoint investors that disagree with how Frenzel is running the company.
"The maintanence and reinforcement of our core activity ... of maritime transport is a priority," the head of TUI was quoted as saying.
TUI reaffirmed recently that it remained "attached to its two pillars, tourism and maritime transport".
A company spokesman contacted by the Financial Times Deutschland declined to comment.
Frenzel has been head of TUI for 13 years, but faces stiff criticism from US investor Guy Wyser-Pratte and others.
In November, Frenzel's contract was nonetheless extended until March 2012.
TUI would also move its headquarters from the northern German city of Hanover to the port of Hamburg, where Hapag-Lloyd is based, the Financial Times Deutschland said.
"The main goal is to prevent a separation of maritime transport (activities) from the rest of the group," it quoted TUI boss Michael Frenzel as saying in a letter that called supervisory board members to a January 23 meeting.
If the plan is approved, it could end chronic speculation about a break-up of TUI, but disappoint investors that disagree with how Frenzel is running the company.
"The maintanence and reinforcement of our core activity ... of maritime transport is a priority," the head of TUI was quoted as saying.
TUI reaffirmed recently that it remained "attached to its two pillars, tourism and maritime transport".
A company spokesman contacted by the Financial Times Deutschland declined to comment.
Frenzel has been head of TUI for 13 years, but faces stiff criticism from US investor Guy Wyser-Pratte and others.
In November, Frenzel's contract was nonetheless extended until March 2012.