Senator: 'Scent Of Victory' On Ports Deal Collapse

POSTED: 11:09 am MST March 9, 2006
UPDATED: 4:11 pm MST March 9, 2006

WASHINGTON -- Dubai Ports World appears to be throwing in the towel.

The company owned by the government of Dubai said Thursday it plans to transfer the operations that it is buying at six U.S. ports to a U.S. entity.

House Homeland Security Committee Chairman Rep. Peter King, R-N.Y., a leading critic of the deal, praised the decision but he said he wants to see the specifics.

Another leading opponent, Sen. Charles Schumer, D-N.Y., said, "We now smell the scent of victory."

It is unclear how Dubai Ports World will handle the divestiture. But the company said it is doing so with the understanding that it "will not suffer economic loss."

The surprise move came after congressional Republicans warned the president that both the House and Senate were poised to block the controversial sale.

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