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UPDATE 1-COSCO Pacific shares suspended -HKEx

Tue Jun 3, 2008 10:30pm EDT

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China

HONG KONG, June 4 (Reuters) - Trading in shares of COSCO Pacific Ltd (1199.HK) was suspended on Wednesday, the Hong Kong Exchange said, pending clarification regarding its tender for the concession of the Piraeus terminal in Greece.

China's Cosco Pacific submitted the top bid to run and upgrade Piraeus Port Authority's (OLP) (OLPr.AT) cargo facilities, the Greek port operator said in a bourse filing on Tuesday.

Cosco, the world's fifth-largest container port operator, offered 4.3 billion euros ($6.71 billion) for the contract to operate the port's commercial docks for up to 35 years, and would invest a further 620 million euros ($967.1 million) to upgrade them.

Shares of COSCO Pacific have fallen about 30 percent so far this year to end at HK$14.54 on Tuesday.

(Reporting by Jimmy Tsim; Editing by Anne Marie Roantree)

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