Minoan Denies Reports Of Share Swap With P&O Princess

Greek ferry operator Minoan Lines dismissed press reports on Wednesday that cruise operator P&O Princess had expressed interest for its subsidiary Minoan Flying Dolphins (MFD).

"I dismiss the content of the press reports. There is no official proposal by a foreign company for MFD. There is no proposal by P&O," a Minoan official said.

It was reported on Wednesday that P&O Princess Cruises had expressed interest for a share swap. It quoted Minoan's board chairman as saying that the initial response was positive.

However, Minoan officials denied that there was any validity to the statements made by the company's chairman regarding the swap.

Shares of Minoan Lines, which controls 32 percent of Minoan Flying Dolphins, were gaining 0.82 percent to 4.90 euros, underperforming the broader market, which was up 3.16 percent.