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’Snap news
Breaking pre-market news on Tuesday,
- HMV issues another profits warning; covenant test pushed back until July — statement.
- Australia govt set to reject takeover of ASX – report.
- Amlin sees claims of £80m-£150m from Japan earthquake and tsunami – statement.
The Tui deal less travelled
Tui Travel is one the biggest risers in the FTSE 100 on Wednesday morning.
The reason is reheated rumourtrage that parent company Tui is considering bidding for the 45 per cent of the travel company it does not already own.
Tui lines up funds for Hapag-Lloyd
Tui, the German tourism group, is to provide more than two-thirds of the short-term financing needed by Hapag-Lloyd after many of the container shipping line’s other shareholders refused to take part in a rescue deal.
Hapag-Lloyd seeks €300m cash lifeline
The owners of Hapag-Lloyd, Germany’s biggest container-shipping line, were locked in talks on Monday night over a €300m ($427m) lifeline for the company amid the industry’s worst slump. The two largest shareholders – Tui,
Hapag-Lloyd sold for €4.4bn
German tourism group Tui has sold its Hapag-Lloyd shipping subsidiary in a €4.45bn ($6bn) deal that will keep the company in German hands and see Tui retain an interest through a minority stake in the buyer.
NOL talks raise prospect of Hapag-Lloyd bid
Singapore’s Neptune Orient Lines, the world’s eighth-biggest container shipping firm, is in talks with banks to take up a $5bn-7bn syndicated loan, reports Reuters. The talks come as German tourism group TUI chief executive Michael Frenzel tours Asia to market his company’s container shipping business Hapag-Lloyd,
Temasek and Tui in merger talks
Temasek, the sovereign wealth fund, and Germany’s Tui are in talks to merge their shipping operations in a deal that could see the Singaporean group take a stake of more than 20% in the Hanover-based travel group.