Finance Ministry and PMO Oppose Zim Sale to Hapag-Lloyd

Israel's Ministry of Finance and the Prime Minister's Office have expressed opposition to the planned sale and merger of shipping company Zim with German shipping giant Hapag-Lloyd under its current outline, ynet, Walla, and Globes reported.

In an opinion submitted to the Government Companies Authority, the Finance Ministry determined that the risks of the deal outweigh its benefits. Officials warned against a critical dependence on foreign entities, citing substantial shareholdings held by Qatar and Saudi Arabia in the German company, as well as potential harm to national security and Israeli control over vital shipping capacity.

Reports also noted concerns that the buyer could harm Zim's North American operations, though the Finance Ministry stated that a deal under modified terms would be re-evaluated. Further details have not yet been released.