DPW Controversy Continues

Thursday, February 23, 2006
In its daily press briefing, the White House included a lengthy discussion of the process that led to the Administration’s approval of the acquisition by Dubai Ports World (DPW) of U.S. port facilities owned by P&O Ports. The White House also released a Fact Sheet outlining the Committee on Foreign Investment in the United States (CFIUS). Representative Nadler (D-NY) wants the process stopped until Congress can review it thoroughly. Representative Pallone (D-NJ) is seeking legislation to keep ownership of American ports out of the hands of foreign governments. Representative Saxton (R-NJ) indicated that a Congressional hearing would be held in the near future to examine the planned transaction. Representative Fattah (D-PA) urged that the transaction be halted until all security concerns are met. source: HK Law
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