TUI in talks on sale of Hapag-Lloyd shipping

GERMANY’S TUI has said it is 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 five per cent.

“TUI is currently in talks with potential investors over the sale of shares in Hapag-Lloyd,” the travel group said in a statement.

Sources close to TUI said that talks with several interested parties including Oman and China’s fourth-largest airline group HNA were at an early stage, with one saying the size of the stake was 10-15 per cent.

An official at Omani state-owned Onyx Investments said it had reached an agreement in principle to buy a stake in world’s fifth-largest container shipper, but that negotiations about the price were continuing.