Orient Overseas Container Line (OOCL) has once again dismissed speculation over a $4bn takeover bid from Cosco Group.
According to a report from the Wall Street Journal, the Chinese company is in advanced talks to acquire its smaller shipping rival.
The Journal quoted people with knowledge of the matter as saying that “OOCL’s owning family is warming up to the idea of a sale and it is down to the price and we may get an announcement as early as next month.”
