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Dubai Firm To Give Up Stakes In US Ports

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posted on Mar, 9 2006 @ 02:57 PM
It would appear the Dubai based firm planning on purchasing stakes in US ports has reconsidered its plan.
WASHINGTON - A Dubai-owned company said Thursday it is giving up its management stake in some U.S. ports, a move made as congressional leaders warned President Bush that both the House and Senate appeared ready to block the takeover. Lawmakers who have been trying to block the deal involving DP World said they were studying the company's announcement to see if it adequately addressed their concerns about an Arab government taking over major operations at six U.S. ports. The deal has become an election-year burden for Republicans.

Please visit the link provided for the complete story.

So what does everyone think here? Is the company really going to give up the pursuit of the deal, or is this just a ploy to make us think they are.

I'm wondering if this really is the result of all the opposition to the deal, or if there are other underlying reasons.

[edit on 11-3-2006 by parrhesia]


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