Tuesday 5 April 2011

TUI says in talks over Hapag stake sale | Reuters

Germany's TUI said it was in talks to sell a stake in container shipping business Hapag-Lloyd that it had earlier said it wanted to float, boosting its shares by 5 percent.

The German travel operator was in early stage talks with several interested parties including Oman and HNA -- China's fourth-largest airline group -- about the sale of a stake in Hapag-Lloyd, sources close to TUI said.

Its stock traded 5 percent higher at 8.96 euros at 1029 GMT (6:29 a.m. ET), against a flat midcap index in Germany.

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