DFDS' shares decreased significantly on Wednesday when the British Competition Appeal Tribunal decided to remit the verdict stating that My Ferry Link - owned by Eurotunnel - had to withdraw from operating on the English Channel, sending the case back to the British Competition Commission for a second review. The decision represents the worst possible outcome for DFDS, says Nordea, though the bank still sees an attractive long-term potential in the shipping company' share.
The Appeal Tribunal found that there were doubts about whether it was actually within the Competition Commission's jurisdiction to handle the case, and thus the entire case has been sent back to square one. DFDS is losing large sums of money sailing on the Channel due to massive overcapacity.
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