Report: Tallink to take Silja's passenger service

  • 2005-10-26
  • From wire reports
TALLINN - Tallink and Sea Containers, owner of Finland's Silja Line, have reportedly reached an agreement allowing Tallink to buy its smaller competitor.

The business daily Kauppalehti reported that, according to unconfirmed information, Tallink and Sea Containers came to agreement on the sale of Silja Line this month.

Last month both sides vigorously denied any deal was in the workings, though rumors of Tallink's possible takeover of Silja Line refused to go away.

Sea Containers Chairman William W. Galvin did not comment on whether the company had held talks with Tallink.

Tallink officials also refused to comment on reports that they were prepared to buy part of Silja Line's fleet.

Still, Galvin did tell the paper that all options were open in regards to Silja Line's future.

On Oct. 18, Sea Containers sent a short notice to the stock exchange saying that the company was about to complete drawing up an extensive plan on improving the passenger service situation.