According to Israeli and Italian media reports, MSC is now seen as the preferred bidder ahead of Germany’s Hapag-Lloyd, whose interest has triggered growing concerns in Israel over national security and ownership structure.
Sources cited by Israeli media describe MSC as the strongest candidate for three main reasons. First, MSC is fully controlled by the Aponte family, with no links to countries that have strained diplomatic relations with Israel. Second, MSC and ZIM already cooperate operationally, including slot-sharing arrangements on trans-Pacific routes. Third, MSC’s financial position is considered robust enough to support a full acquisition, even amid weaker freight markets.
By contrast, Hapag-Lloyd’s shareholder structure has become a central issue in Israel. The German carrier counts Qatar Holding and Saudi Arabia’s Public Investment Fund among its major investors — a factor that has raised objections both within ZIM and at the government level.
This has happened so far: Global carriers launch battle for Israel’s major container line
Workers and government push back
ZIM’s workers’ committee has reiterated its opposition to a takeover by Hapag-Lloyd, warning that foreign ownership linked to Arab sovereign funds could undermine Israel’s strategic interests. The issue was raised directly with Transport Minister Miri Regev during a recent meeting with union representatives.
At the centre of the debate is the Israeli government’s “golden share”, introduced when ZIM was privatised in 2004. This gives the state veto rights over any acquisition exceeding 24% of the company. The rules also require that ZIM’s board remains majority-Israeli, its CEO and chair hold Israeli citizenship, and at least eleven container vessels remain available to the government in national emergencies.
Sale process becomes more formal
ZIM’s board has now appointed Evercore as financial adviser to run a structured sale process, following the rejection of a management-led bid by CEO Eli Glickman and shipping entrepreneur Rami Ungar. Evercore has been tasked with evaluating offers and managing negotiations with potential buyers.
At the same time, internal pressure is mounting. A group of Israeli shareholders holding around 8% of ZIM’s capital has proposed replacing several board members, adding another layer of uncertainty to the process.
Against this backdrop, ZIM has postponed its annual general meeting to 26 December 2025, with changes to the agenda reflecting the ongoing takeover discussions. The board has said it will not provide further updates until either an agreement is reached or the review process concludes.
A strategic asset under scrutiny
Unlike previous takeover speculation, the current phase is unfolding under unusually close political oversight. ZIM is widely regarded in Israel as a strategic asset, not just a commercial shipping line, due to its role in maintaining supply chains during periods of conflict.
With MSC now viewed as the most acceptable buyer from both an operational and geopolitical standpoint, the coming weeks are likely to determine whether Israel’s largest container carrier changes hands — and on what terms.
