True. However, they (Dubai) hasn't even sniffed about revoking our leases in that area. So,,,I still see the push for this as being a bit lopsided. I dunno,,it's not sitting too well just yet. I am working on finding out more info.
Dubai Ports has no plans to sell US ops--report
Wed Mar 8, 2006 9:18 PM ET
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LONDON, March 9 (Reuters) - Port operator Dubai Ports World has no plans to sell its newly acquired operations managing six U.S. ports, despite a fierce political dispute in Washington, its head said in an interview published on Thursday.
DP World Chief Executive Mohammed Sharaf said his company would take all "humanly possible" measures to counter fears its takeover of the ports threatens U.S. security.
"We have not even thought of that (selling the port management operations) yet," he said in an interview with Britain's Financial Times newspaper. "We have a business to run -- the USA is part of it."
The newspaper's Web site (www.ft.com) reported that private equity groups had approached DP World about buying its U.S. operations. The report, citing unnamed people familiar with the matter, gave no more details.
DP World's takeover of British ports operator P&O (PO.L: Quote, Profile, Research), which previously managed the U.S. ports, has created a political crisis for U.S. President George W. Bush.
Opponents trying to block the deal say management of major ports by an Arab-based company could jeopardise national security.
Bush has said such fears are unwarranted because the United Arab Emirates is a strong ally. He has threatened to veto any legislation blocking the deal.
DP World's Sharaf pledged to do everything possible to maintain tight security at the ports.
"We are sure that the measures we are taking are to the highest standards that we know and anybody else knows in the security area," he told the FT.
"If (the U.S. authorities) want something more, if it is humanly possible, we will do that."