Source: BBC News
A Miami-based company, Eller ITO Stevedoring Services, has called on the English High Court to block the sale of shipping giant, P&O.
Eller & Co claims that the takeover could cost it $150m ($86m) and affect up to 1,500 jobs at the port in Miami.
They aren't the only ones protesting against the sale.
Buying P&O would turn DPW into the world's third largest port operator.
However, critics are pushing ahead with their attempts to stop the sale of P&O.
New Jersey officials are taking legal action to try and block the deal, while the Port Authority of New York and New Jersey is seeking to annul P&O's 30-year operating licence, claiming it failed to seek permission for the transfer of ownership.
Meanwhile in London, Eller, which provides stevedoring services at the port of Miami, has been arguing that the deal could be revoked in the US and that it breaches contractual agreements it has with P&O.
"There is a real prospect that the arrangement will lead to US port authorities revoking licences and leases held by joint venture companies which will cause sever financial losses," its petition states.
If the English High Court were to pick this up, things could get even more heated than they are now.
No comments:
Post a Comment