UPDATE 3-Singapore's NOL says made binding Hapag-Lloyd bid
(Adds comment from Hamburg group, share price)
SINGAPORE, Sept 29 (Reuters) - Singapore's Neptune Orient Lines (NEPS.SI) said on Monday it has submitted a binding bid to acquire the Hapag-Lloyd container shipping business but declined to provide details of its bid.
It said it made the offer to Hapag-Lloyd's owner TUI AG (TUIGn.DE) on Friday, the same day a group of Hamburg investors announced a binding offer for the German container shipping firm which is the world's fifth largest by capacity. [ID:nLQ515596]
A report in German newspaper Frankfurter Allgemeine Zeitung on Monday said, without citing sources, the Hamburg group would bid more than 4 billion euros ($5.85 billion) for Hapag-Lloyd, including debt.
In Germany, a spokesperson for the Hamburg group declined to comment.
TUI shares fell 3.2 percent to 11.47 euros by 1033 GMT while the German mid-cap MDAX index .MDAXI shed 3.8 percent.
In the past, analysts have valued Hapag-Lloyd at 4-5 billion euros, but turmoil in markets, the global economic slowdown and difficulties in raising finance could result in lower bids.
Like the Hamburg group, NOL did not provide details of its bid, citing confidentiality undertakings.
NOL, a unit of Singapore state investor Temasek [TEM.UL], aims to create the world's third-largest container shipper by merging Hapag-Lloyd with its APL unit, the number seven player.
The Hamburg group, which includes the head of Swiss logistics firm Kuehne & Nagel (KNIN.VX) Klaus-Michael Kuehne, the city of Hamburg and HSH Nordbank [HSH.UL], wants to keep Hapag-Lloyd independent and Hamburg-based. (Reporting by Kevin Lim; Additional reporting by Arno Schuetze in Hanover; Editing by Quentin Bryar)
