HAMBURG (dpa-AFX) - After billionaire Klaus-Michael Kühne, the main shareholder of the Eurokai Group, Thomas Eckelmann, is now also considering making a counter-bid for the planned HHLA deal between the city of Hamburg and shipping company MSC. "This deal would be a disaster for the Port of Hamburg. That is why I am considering, on behalf of the Eurokai Group, submitting a counteroffer to MSC to the Senate. On the same conditions," Eckelmann told the "Hamburger Abendblatt" (Thursday).

The world's largest container shipping company MSC and the Senate had announced on Wednesday that the Swiss company wants to buy into Hamburg port logistics company HHLA. In the process, the Geneva-based group and the Hanseatic city signed a binding preliminary agreement to establish a strategic partnership. The city currently holds around 69 percent of the listed company Hamburger Hafen und Logistik AG (HHLA). In the future, this is to be jointly managed in a joint venture, with the city holding 50.1 percent and MSC 49.9 percent of the shares.

Eckelmann does not see any problems ahead for his company Eurokai and the Eurogate terminal in Hamburg, which is operated together with the Bremen-based port logistics company BLG. It is true that MSC would switch to the HHLA terminals and take with it about 25 to 30 percent of Eurogate's handling, Eckelmann said. "That would be a painful loss. But in return, many HHLA customers could switch to us. We are open to everyone. In the end, this could even mean a gain for Eurogate," he told the newspaper.

Kühne had told the "Frankfurter Allgemeine Zeitung" and the "Hamburger Abendblatt" on the very day the contract was signed that the deal was an affront to Hapag-Lloyd as the Port of Hamburg's largest shipping customer. He advised Hapag-Lloyd, in which he holds 30 percent through his Kühne Holding, to make its own takeover bid for 49.9 percent of HHLA shares: "If Hapag-Lloyd wouldn't do it, my Kühne Holding AG is considering doing it in the short term."

A takeover by players other than MSC is considered very difficult. If only because of the binding preliminary agreement, the city of Hamburg is unlikely to cede its shares beyond 50.1 percent to anyone else. This would leave the approximately 31 percent in free float, which MSC is already seeking with an offer of 16.75 euros per share. Third-party bidders could still prevent the MSC deal and maintain the status quo if they get their hands on at least ten percent of the shares./klm/DP/ngu