The Israeli government holds a golden share in the company
Zim Integrated Shipping Services Ltd., Israel's flag carrier, is urging the Israeli Government to speed up the implementation of a decision to split up the global shipping line into two independent companies - domestic and foreign.
Zim lines has been seeking to split the company into two entities for several years, but the Israeli government which holds a golden share and a veto power is understood to be against the move. It is also understood that the Israeli trade unions are also against the move.
In a statement accompanying the company's quarterly financial results, the company noted that "Delay may affect the company's competitiveness and complicate the creation of joint ventures common among industry global players which has good potential to improve cost structures, cost reduction, and operation optimization,"