6 January 2017
PUNE:
The Trump Organisation has cancelled exploratory talks over possible projects
by the global firm in India, Brazil and Argentina as
President-elect Donald Trump readies
to assume office in about two weeks and questions about conflict of interest
between his presidency and business continue to be raised.
A report in Fox News quoted
Trump lawyer Alan Garten as saying that the company would not continue exploratory
talks over projects in Pune in India and
in Buenos Aires. The company has also cancelled a "memorandum of understanding"
to continue discussions with local partners over possible office towers in Rio
de Janeiro.
The report added that
discussions over the possible project in Pune were
separate from two residential towers already built there that bear the Trump
name. Trump also has his name on a residential tower in Mumbai.
Late last year, licensing
deals for hotels in Brazil, Azerbaijan and Georgia were
also cancelled as Trump had come under pressure to separate from his business
before assuming office. While Trump has given no indication that he plans to
sell his interest in his business, he has pledged to do "no new
deals" while the president and to leave the management of his company
to his two adult sons.
The report added that Trump
has stakes in 500 companies in about 20 countries, some of which appear to be
set up for tax or legal reasons. It said the Argentina talks
came under scrutiny last year after several media outlets reported that Trump
tried to speed along the Buenos Aires project by mentioning it in his
congratulatory call from Argentine President Mauricio Macri.
The project in Brazil involves
plan to build five office towers in Rio de Janeiro, but the development got
tied up in a corruption investigation that was unrelated to Trump himself, the
report said.
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