Thursday, January 12, 2006

Shipping: Singapore and Dubai go head to head for control of P&O

Singapore and Dubai are locked in a bidding war to gain control of British ports operator P&O. The Age, reports that Singapore's state owned P&O Temasek Holdings, has made a 3.5 billion pound bid in an effort to counter a bid by Dubai's state owned DP World.

P&O, has announced they will postpone for two weeks a scheduled January 20 meeting at which investors were to have approved the DP world offer,so that PSA can examine P&O's accounts.