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Dubai Company Ready To Yield Control |
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3/14/2006 9:03:28 AM |
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The company owned by the government of Dubai says it is giving up its stake in US ports, but so far, the announcement isn't having much of an impact.
Dubai Ports World says it is ready to transfer control of those operations to a US entity. But the announcement made by Senator John Warner on the company's behalf failed to halt the congressional drive to block the controversial deal.
Almost immediately afterward, the Senate voted to ignore its Republican leaders and clear the way for such a vote. The Senate voted 51-to-47 to consider the Democratic legislation. That's 16 votes short of what GOP leaders needed to prevail.
The swirl of moves came after congressional leaders warned President Bush that both the House and Senate appeared ready to block the takeover.
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