Officials mum over takeover rumour

‘No comment’ say CP Ships and Kien Hung Alan Peat THERE IS a very strong rumour passing around the market that Lykes Lines or, more frequently said, parent company CP Ships, is poised to take over Taiwan-based Kien Hung Line. But, despite extensive efforts, FTW was unable to get any official confirmation before print deadline on Monday (February 24, 2003). The word from Heather Purl, who handles press queries for Lykes from the Tampa, Florida headquarters, was a very polite - but equally dismissive - reply: “I’m sure you can understand that our policy is not to respond to industry rumour.” Meantime, an enquiry on the local scene from Mark Shih, who heads up United Ships Agency - the KH agency in SA - was “No comment”. There is, however, a suggestion from our various interviews that an announcement is imminent.