UK: High Court clears P&O's takeover

[muriel_volestrangler]

Shipping and ports group P&O has had its £3.9bn ($6.8bn) takeover by Dubai Ports World approved by a High Court judge in London.

The bid from the United Arab Emirates based firm had faced opposition in the US, where P&O runs ports at key cities including Miami and New York.

P&O's US partner Eller & Co had tried to get the takeover blocked on the grounds it would cost jobs.

US politicians had also opposed the deal due to security concerns.

http://news.bbc.co.uk/2/hi/business/4765262.stm

[KoKo]

1. And I was hoping that Blair would pull the plug on this deal to help his

Chimp buddy out...

This means that Bush will go full steam ahead to ram this down our throats, unless Congress acts. :-(

[muriel_volestrangler]

2. Blair couldn't intervene in a court case

without trashing a few hundred years of British legal precedent. 'TRANSEC', the Department of Transport's security department, OKed the takeover a couple of weeks ago.

[EuroObserver]

3. Unless it reaches the level of the Pinochet case, you mean? n/t

[muriel_volestrangler]

4. OK, good point

but extradition cases are easier for the government to intervene in than a straight financial case.

[EuroObserver]

5. Sure. Though BTW I see extradition proceedings are no longer required

in order (some kind of executive order, is that?) to send people from UK into US limbo on the basis of non-habeas corpus: not one shed of evidence...

On edit: as regards Pinochet, at least Chilean legal proceedings, although slow, appear to be proceeding largely as they should.