$Stock*Shop*Charts*News*Option$

[xanadu90]

Good Morning SL. Latest in German TUI (Tourist Union International) / Fredriksen battle:

- TUI has accepted the selling to a shareholder/spin-off or a merge of the containership subsidiary Hapag Lloyd. But Fredriksen said TUI should first focus on developing Hapag-Lloyd's business and then spin-off or merge with another shipping line.

- The chairman of the board of TUI Mr. Krumnow is seeking for a "soft landing" exit from his chair - as Fredriksen has hoped. No official information of his resignation has yet been made

Hapag Lloyd was a great company in the beginning of the container ship era, but it has deteorated considerably under the present management, which was more interested in tourismus than shipping. John Fredriksen (of course he snapped the situation) bought cheap shares, and is now the biggest shareholder. JF says he is not out for buying Hapag Lloyd, but he has no containerships in his empire, so... who knows.

At the latest shareholder meeting JF did not get the majority of the votes to remove Chairman Krumnow, but he got a seat at the Board - and that's the clou.

I posted Tor-Olav Trøim's speech at that TUI shareholder meeting on Tanker board (link below). It gives a clear picture, what's up in the battle.

"We'll be back" said Trøim after the meeting. They sure will.

http://investorshub.advfn.com/boards/read_msg.asp?message_id=29306585