"Portgate" bottled up for now: UAE company agrees to delay ports takeover

I wonder if the Secret Service awakened President Bush with this news?

AP is reporting tonight that Dubai World Ports announced that it is delaying its takeover of operations at six major US ports to give more time for the company to convince skeptics in Congress that it does not pose a national security risk.

The proposed takeover is a huge headache for the president, as Democrats smell blood in those harbor waters.

From AP:

The delay did not appease some of the deal's harshest critics.

"If the president were to voluntarily institute the review and delay the contract that would obviate the need for our legislation, but a simple cooling-off period will not allay our concerns," said Sen. Charles Schumer, D-N.Y.

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