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Dubai to give up control of U.S. ports
Deal ran into tough opposition in Senate over security concerns
WASHINGTON - A top Senate Republican says a Dubai-owned company has decided to give up its management stake in U.S. ports.
The news came from John Warner, R-Va., chairman of the powerful Armed Services Committee and a member of the Senate committee on Homeland Security and Governmental Affairs, as it became clear that allowing Dubai Ports World, a company owned by the United Arab Emirates, to take control of six U.S. port operations faced certain defeat in Congress.
Earlier, the GOP leadership delivered that assessment to President Bush in a private meeting at the White House.