CARNIVAL is poised to take over P&O Princess Cruises
after the UK company scrapped its proposal to merge with Royal Caribbean.
The world’s largest cruiseline is expected to complete its
own merger with P&O Princess early next year after shareholders back the
deal in January. The joint company will trade on the London and New York stock
exchanges under a dual-listed arrangement.
P&O Princess’ decision to ditch Royal Caribbean cost it
£62.5 million in a break fee.
Regulators in the UK, Europe and US have agreed to a
Carnival/P&O Princess cruiseline, despite competition fears.