A.P. MØLLER-MÆRSK

A couple of years ago, following the death of Mærsk Mc-Kinney Møller, I advocated the break-up of the conglomerate he controlled, and which is Denmark's biggest company.

It seems they are beginning to listen. Last year it sold its 50% share of the country's largest supermarket chain to the family which controlled the over half. And there has been more investment in ports and containers, the group's core areas. But the biggest development to date is the recent announcement that the group will sell its roughly 20% stake in Danske Bank, Denmark's largest financial institution. It's a pity that it has taken so long, but better late than never.

True, the stake is merely being moved from A.P. Møller-Mærsk to the family trusts that control the company. And those trusts control the company because of the judicious use of special B class shares. Nevertheless, A.P. Møller-Mærsk is on the way to becoming a company like other companies. That can only be a good thing.

Walter Blotscher