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View Full Version : UAE to takeover UK ports!


Tricky Woo
5th Apr 2006, 11:51
Reuters UAE, Wednesday 5th April 2006

Peninsular & Oriental Steam Navigation Company, trading under P&O PLC, has signalled an intention to the British Government to acquire majority stakes in three British ports, with a stated ambition to add more UK ports to its worldwide container terminal portfolio. P&O PLC is wholly owned by the local Emirates company, DP World, which has recently been rebuffed by the US Government on the grounds of national security during the recent attempt to acquire Port Newark Container Terminal LLC. A spokesman for DP World has stated that "the three ports, Liverpool, Salford and Cardiff will allow DP World to concentrate their logistical European container operations in the UK, taking advantage of the island's unique location in the North Atlantic ocean". An enquiry to the British Embassy as to whether any negative reactions to the takeovers were to be anticipated resulted in no comment.

Oo-err...!
TW

steamchicken
5th Apr 2006, 13:53
errrrrrrrrrr.... don't P&O already own quite a few British ports?

bear11
5th Apr 2006, 13:55
Maybe they'll swop them for Basra?