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 WASHINGTON (AP) - A United Arab Emirates company offered Thursday to delay part of its $6.8 billion takeover of most operations at six U.S. ports to give the Bush administration more time to convince skeptical lawmakers the deal poses no security risks.
The surprise announcement relieves some pressure from a standoff between President Bush and the Republican-controlled Congress, which has threatened to block the deal because of the UAE's purported ties to terrorism.
Under the offer coordinated with the White House, Dubai Ports World said it will agree not to exercise control or influence the management over U.S. ports pending further talks with the Bush administration and Congress. It did not indicate how long it will wait for these discussions to take place.
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