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I doubt concerns about national security would hold up any sale of the port to foreign interests, and in any case, if a foreign investor is prepared to put money into the port's development, why not? Previous governments didn't have any concerns about the Spanish owning our airports, and indeed P&O Ferries, is owned by Dubai Ports World.
Gatwick Airport was recently sold to an investment company that has attracted funding from a wide range of interests, and is currently embarking on a £1 billion investment programme. I'm sure there are many investors that would look upon the estimated £400 million cost of developing T2 as a good investment.
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