P&O has confirmed it is in takeover talks, with Dubai World Ports reportedly lining up a ”3bn bid. DWP is owned by the Dubai government and will have the necessary cash to buy-out the venerable British company. However, DWP”s interest is understood to have alerted rivals like AP Moeller, Singaporean ports business Temesak and Hong Kong”s Hutchison Whampoa to any future sale. UK unions are concerned by the news, especially for the ferries side of the business.
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