Tui shares dive on Hapag-Lloyd scare
by
Obsidian
—
last modified
Jan 21, 2009 12:00 AM
Tui shares slid 11% on Friday amid fears that the German tourism group may be unable to obtain the agreed price for Hapag-Lloyd.
The sell-off followed a disclosure in Lloyd's List that Royal Bank of Scotland had withdrawn from one of the syndicates financing the deal.
Two banking consortia involved are now said to be close to disintegration.
Both are led by German...
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