Israel Finance Ministry opposes Zim sale to Hapag-Lloyd

Context: This also comes despite a recent secret meeting between top military commanders from the U.S., Israel, Saudi Arabia, and Qatar to discuss tensions in the region.

Driving the news: The ministry pointed to the "involvement of hostile shareholders" as one of the reasons for objecting to the deal, noting Qatar and Saudi Arabia held stakes of over 10% over the business.

• "There is a genuine concern that this foreign influence could be exploited during political or diplomatic crises," Globes reports.
• The deal in question, struck in February, would offer the Israeli government a golden share in ZIM, and promises to keep a presence in Israel while expanding the fleet there.
• "We remain convinced that the concept is sound," Hapag-Lloyd wrote in a Monday statement.

The bottom line: A deal may still be struck, but investors aren't holding their breath. Shares of ZIM (NYSE: ZIM) sit at $28.67 apiece today — well below the $35 a share price Hapag-Lloyd has offered.