Bid for ferry firm SeaFrance dropped by rival DFDS
Ferry firm DFDS has dropped its attempt to buy troubled rival SeaFrance.
In November a £5m bid was rejected by the Tribunal de Commerce in Paris, despite the court declaring SeaFrance bankrupt.
DFDS and partner Louis Dreyfus Armateurs have now decided not to submit a fresh bid.
In a joint statement the companies said they would "continue to monitor the situation" for future opportunities that may arise.
SeaFrance, which employs a total of 1,650 staff on both sides of the Channel, went into receivership last year.
The company has four ferries sailing between Dover and Calais, carrying more than 3.5 million passengers a year.
The Tribunal de Commerce was given the task of making a decision on the firm's future after the European Commission ruled that a €200m (£176m) bailout by the French government was illegal.