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Dubai bidder for P&O says it will maintain services
Page 18
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A POTENTIAL £3.3bn takeover of P&O should not affect the ferry services used by hauliers, according to the company.
P&0's board has recommended acceptance of an offer from Dubai Ports World (DPW), which is owned by the government of the United Arab Emirates DPW wants to expand its port ownership and the purchase of P&O would make it the world's th ird largest port company.
Although it has not been involved in ferry services before, DPW says if the deal goes through it will continue to operate the ferries currently run by P&O.
P&O currently operates in more than 100 ports; it also runs ferry services between the UK, France, the Netherlands, Belgium, Ireland and Spain.
The Dubai bid is based on a price of 443p per share, which the P&O board describes as"too good to turn down". Its Ferrymasters division is included in the deal.