Finance Ministry of Israel

Israel's Prime Minister's Office and Finance Ministry are opposing the proposed $4.2 billion sale of shipping company Zim. The resistance from two key government bodies puts a major obstacle in the path of the transaction, which would be one of the largest deals in the country's shipping sector. Further details on the buyers and the grounds for the opposition have not been disclosed.

Israel's Finance Ministry has come out against the proposed acquisition of Israeli shipping company Zim by Germany's Hapag-Lloyd. The objection from the ministry throws a political and regulatory hurdle in front of a deal that would see one of the world's largest container lines take over a strategically significant Israeli carrier, and the dispute is now being watched closely in both shipping and financial circles.