News

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.