German investor: counter offer for Hamburg port operator 'less likely'

Hamburger Hafen und Logistik AG

20/09/2023 10:09

BERLIN, Sept 20 (Reuters) - German logistics investor
Klaus-Michael Kuehne said he was in talks on making a possible
counter offer for the Hamburg port operator HHLA but that this
was currently less likely, speaking in an interview with the
Zeit newspaper published on Wednesday.
    "In principle, a takeover battle is not good - HHLA's share
price has risen sharply, and you'd be paying too much if you
tried to get shares with all your might now," he told the
newspaper.
    Swiss-based logistics company MSC has offered to buy almost
half of the HHLA in a deal with the local Hamburg government.
    Kuehne owns a 30% stake in MSC competitor Hapag-Lloyd
 HLAG.DE .

 (Writing by Rachel More; editing by Matthias Williams)
 ((rachel.more@thomsonreuters.com;))