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Trade, not politics: Orient Overseas defends Cosco takeover

Hong Kong-based shipper says no pressure from China to sell business

Orient Overseas International Chief Financial Officer Alan Tung Lieh-sing delivers first-half earnings on Aug 7. (Photo by Jennifer Lo)

HONG KONG -- Hong Kong-based Orient Overseas Container Line blamed industry competition rather than political pressure on its decision to sell the half-century-old family business to a state-owned Chinese peer.

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