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Stora Enso snubs Grimaldi.

Europe Intelligence Wire

| December 01, 2006 | COPYRIGHT 2006 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Lloyds List)

FINNISH paper giant Stora Enso has used the sale of its 5.4% stake in compatriot and enforced marriage target Finnlines to snub its hostile Italian suitor Grimaldi, writes Jerry Frank.

The Helsinki group yesterday yesterday offloaded its 2.2m shares in Finland's largest shipping company at €16.06 a share for a total of € 35.48m ($41.5m).

Market sources said financier Deutsche Bank bought the ...

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