HAMBURG (dpa-AFX) - Following in the footsteps of CDU Member of Parliament Gotz Wiese, the Left Party's port expert Norbert Hackbusch has also lodged a complaint with the EU Commission against the planned investment by the major shipping company MSC in the city's port logistics company HHLA. The background to this is possible state aid in favor of MSC due to an underestimated purchase price for the HHLA shares, Hackbusch announced. "The Senate did not obtain a market value appraisal for HHLA, although this is required by the state budget regulations," he said.

Experts had also pointed out this problem several times in committee hearings. "But if the city wanted to buy back the shares in return, then this would have to be done on the basis of a market value report - so the whole thing is more than illogical," said Hackbusch.

The red-green Senate wants to bring the Mediterranean Shipping Company (MSC) on board in order to stabilize Hamburger Hafen und Logistik AG (HHLA) and container handling. The city is to hold 50.1 percent and MSC 49.9 percent of the company. To date, the city has owned around 70 percent, with the remainder in free float. According to the agreement, MSC will pay 16.75 euros per share for the HHLA shares.

Hackbusch: Senate ignores EU state aid requirements

With the deal, the Senate is disregarding the EU Commission's requirements for state aid procedures, said Hackbusch. "It is clear that the sale of the HHLA shares is below value and will result in economic damage for the Free and Hanseatic City of Hamburg. However, we must rule out the possibility that this constitutes state aid in favor of the MSC Group."

Around three months ago, the port expert from the CDU parliamentary group also lodged a complaint with the EU Commission. Wiese also criticized the fact that the HHLA shares were to be sold below value.

MSC entry in the citizens' assembly already on the home straight

The Bürgerschaft approved the Senate's plans at first reading last week. The state parliament is expected to give the final green light for the deal in its first session after the summer break on September 4. In view of the red-green two-thirds majority, there is no doubt that it will be approved./fi/DP/jha