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Global Ports terminates sale talks with shipping firm MSC

Reuters
Updated
Illustration shows cargo boat model and Mediterranean Shipping Company (MSC) logo

(Reuters) - Global Ports Holding Plc said on Tuesday it had terminated talks with Swiss-based MSC Mediterranean Shipping Company which had approached the world's largest cruise port operator to acquire it, adding it was confident about its strategic direction.

SAS Shipping Agencies, a unit of MSC confirmed that it does not intend to make an offer for Global Ports, which is owned by Turkish businessman Mehmet Kutman.

Shares of London-listed GPH were down 16.7% at 95 pence as of 1115 GMT.

(Reporting by Shanima A in Bengaluru; Editing by Vinay Dwivedi)