Carnival Corporation has today issued a statement to counteract what it believes is a 'misleading announcement' made by P&O Princess yesterday.

Carnival says it is not seeking to force P&O Princess Shareholders to vote down the merger proposal. Instead, Carnival says it is proposing that the board of P&O Princess should, in the interests of its shareholders, delay the EGM until the regulators have concluded their review of both proposals.

The company insists it wishes to ensure that a 'level playing field' is established in order that P&O Princess shareholders can then consider both proposals on the basis of value.

Micky Arison, chair and chief executive of Carnival commented: We are not spoilers. We have talked to P&O Princess about a combination of our two businesses over a long period of time. The only spoiling tactics are the poison pills entered into by the P&O Princess board, which have destroyed shareholder value and which have been entered into in the full knowledge of our longstanding interest in P&O Princes.

The company says both proposals are conditional upon regulatory approval and neither combination can proceed without inter alia, US antitrust clearance.