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EU: French shipping line approaches German rival

 |  July 9, 2018

French container shipping company CMA CGM has approached rival Hapag-Lloyd over the possibility of merging, a deal that would create the biggest container carrier in the world, according to Reuters.

Three sources confirmed to Reuters that CMA CGM, which declined to comment on the statements, initiated talks with German rival Hapag-Lloyd, which reportedly dismissed the idea.

“The idea which has been proposed… would be a non-cash merger,” one source said.

Full Content: Reuters

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