HAMBURG (dpa-AFX) - The major shipping company MSC is so far making small steps towards its planned takeover of almost half of the Hamburg port logistics company HHLA. "Together with the City of Hamburg, we now hold more than 75 percent of the HHLA shares," said the German head of the world's largest container shipping company, Nils Kahn, to "Welt am Sonntag".

With a remaining share of 50.1 percent held by the City of Hamburg and a planned takeover of around 19 percent of the shares owned by the Hanseatic City, this means that MSC has so far been able to acquire around six percent of HHLA shares. When the official takeover bid was presented almost three weeks ago, it was stated that MSC had already acquired almost 4.7 percent of the outstanding HHLA shares via the stock exchange.

Kahn, like Group CEO Søren Toft before him, expressed confidence that the cooperation agreed with the City of Hamburg will be successful: "We assume that we will now be able to acquire further shares and that we will bring the transaction to a positive conclusion." MSC is offering shareholders 16.75 euros per HHLA share.

Kahn ruled out increasing this offer: "No, that is not an option." The deadline for accepting the takeover offer published on October 23 is midnight on November 20. Shareholders who have not accepted the offer by then can do so within a statutory "further acceptance period". According to the MSC offer, this period is expected to run from November 24 to December 7.

MSC's acquisition of the long-established HHLA is controversial in Hamburg. The opposition in the Hamburg parliament is critical of the deal. The trade union Verdi and employees in particular fear that the cooperation could be at the expense of employees. Kahn expressed understanding for this. "HHLA is a special company, the port is part of Hamburg's identity," he told Welt am Sonntag. "That's why it was clear to us that such a transaction would be controversial. That is also good and right."/kf/DP/mis