The British government cleared Peninsular & Oriental...

The British government cleared Peninsular & Oriental Steam Navigation Co.’s $210-million purchase of U.S.-based Sitmar International Inc., which will make P&O; the world’s largest luxury cruise ship operator. P&O;, through its Princess Cruises subsidiary, already has a five-ship fleet of luxury liners based in Los Angeles. The purchase will give P&O; control of Sitmar’s Los Angeles-based fleet of four cruise ships and three large cruise ships currently being built for the company.