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Politics : Formerly About Advanced Micro Devices

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To: bentway who wrote (276397)	2/24/2006 11:34:07 AM
From: Jim McMannis	Read Replies (1) of 1577855

White House: More time to brief Congress helpful By Caroline Drees, Security Correspondent 40 minutes ago WASHINGTON (Reuters) - The White House on Friday welcomed "a slight delay" of the contested deal for a state-owned Arab company to operate terminals at six U.S. ports but said it should still proceed. President George W. Bush is under political pressure to cancel the deal that has generated a firestorm on Capitol Hill and elsewhere. The United Arab Emirates company DP World said it would go ahead with the $6.85 billion acquisition of the port operations worldwide of P&O but would make special arrangements for the U.S. ports while it discussed security concerns. White House press secretary Scott McClellan said, "We believe it would be helpful to have some additional time to brief Congress on the facts." "Some additional time, or a slight delay, is the way I'd characterize it," McClellan added. "It's not up to us. It's up to the company." The issue blew up in Washington in the past week with many senior figures in Bush's Republican Party as well as Democrats vowing to stop the deal because it could threaten U.S. security and saying they should have been informed about it in advance. Bush insisted the deal was safe and that the company's home base, the United Arab Emirates, was a close ally in his war against terrorism. U.S. lawmakers opposed to the takeover have noted that two of the September 11 hijackers came from the UAE and that U.S. investigations showed al Qaeda funding had passed through the Gulf state. McClellan said White House officials had spoken with company officials privately and told them it would be helpful to have some additional time to make the case to lawmakers. Bush, who has threatened to veto any legislation to block the deal, still believes it should proceed, he added. "Nothing's changed in terms of what the president said."

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