Bush Agrees to Port Deal Review
Monday February 27, 2006
The Washington Post reports that the Bush Administration agreed Sunday to conduct a 45-day review of the purchase of UK-based P&O by United Arab Emirates firm DP World. This is a reversal for the White House, which insisted last week that the deal had been properly vetted and which vowed to veto any Congressional act mandating a review. Later news reports concluded that neither the President nor Treasury Secretary had been aware of the deal before press reports.
The Post says that DP World will leave the North American operations under the control of P&O's chief executive in London. It remains unclear from press reports whether all of P&O's extensive operations are being sold.
The Post says that DP World will leave the North American operations under the control of P&O's chief executive in London. It remains unclear from press reports whether all of P&O's extensive operations are being sold.
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