Neptune Orient Lines Ltd., a subsidiary of Singapore sovereign wealth fund Temasek Holdings and Tui AG of Germany are reportedly in talks to merge shipping operations.
If a merger was to go ahead, it would create the world’s third-largest container-shipping enterprise and coud see Temasek holding more than 20 percent of Tui.
Preliminary talks
Citing unnamed sources, the newspaper said the two companies are looking at "a number of options" are possible, including a share swap with the possibility of injecting Temasek's 68 percent in container shipping line NOL into Tui unit Hapag-Lloyd. Sources said that talks at a preliminary stage.
Despite reports, Tui said the talks are not taking place, while Temasek and NOL declined to comment.
February 06, 2008
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