British Court Allows Dubai Deal to Proceed
AP reports: “The controversial takeover of British shipping company P&O by Dubai’s state-owned DP World received the green light Monday when Britain’s Court of Appeal dismissed a Miami firm’s objection to the deal. “
The Court of Appeal declined to hear an appeal from Miami-based Eller & Co., which had tried to have the deal barred on technical grounds, arguing that U.S. concerns about a United Arab Emirates company owning significant operations at six major U.S. seaports could harm its business.The lower High Court had already approved the 3.9 billion pound ($6.8 billion) acquisition of the Peninsular and Oriental Steam Navigation Co. and Monday’s unanimous decision by the three judges of the Court of Appeal means that the deal is now free to proceed through the final regulatory stages.
In a statement following the decision, P&O said the takeover will now become effective on March 8 and that the shipping company’s shares will be delisted from the London, Sydney and Tokyo stock exchanges on March 9. (emphasis ours)
Point of record, Great Britain is undeniably our staunchest ally in the war on terrorism?
Anybody wonder why PM Tony Blair isn’t worried? Why others in Europe aren’t crying out foul? After all, it’s not like their ports aren’t “at risk,” too.
Maybe critics should weigh this consideration into the ongoing debate here in the States.
RELATED:
Americans Oppose UAE Port Deal
Port Security: We Weren’t Wrong To Question,
But We’re Satisfied By The Answers
Read much more on the Dubai controversy
March 6th, 2006 at 8:50 pm
The Best Of Tuesday
Today, I have something extra special: The Real Life Simpsons. As part of a promo for the new season, Sky TV in Britain filmed a real life version of the Simpsons’ intro.
March 7th, 2006 at 8:21 am
[...] Port Controversy: Democrat Posturing and Real Concerns » “Gold Card” For Illegal Aliens » The Donald Comes To S.F. » Horrayfor Honkeywood? » Dear Cindy! » Nagin Watch » Piercing Marathon Sets Record » Pelosi to Unveil Democrat ‘Contract on America’ » Acadamia VS. US Military » The Effect of a CRA Endorsement » British Court Allows Dubai Deal to Proceed » Fairness Doctrine redux? » PDB (Peters’ Daily Briefing) » Of Fish and Civil War » Dean Called on Spending Priorities » AP Attempts to Revive Cindy Sheehan » Time to Challenge Murtha » Summary of This Weekend’s California Republican Assembly Convention… » Agenda Media: Truth Averse? » Success of “Breasts, Not Bombs” Protest Does Not Transfer to “Vaginas, Not Violence” List all posts » [...]
March 8th, 2006 at 4:29 pm
[...] Lewis went on to say what we suggested recently. Namely, since P&O is also managing major ports in Europe, he asked: “Why haven’t we heard a peep?” Maybe because they know it’s better to follow the time-tested advice: Keep your friends close and your enemies closer. [...]