Hong Kong’s richest man is in hot water over his company’s Panama Canal ports deal
- CK Hutchison shares dropped more than 6% after China criticized its deal with BlackRock for ports in Panama, as reported by Ta Kung Pao and CNN.
- A consortium led by BlackRock is planning to spend $22.8 billion to buy ports from CK Hutchison, which includes a significant interest in various international ports.
- China labeled the proposed sale a "betrayal" of the Chinese people, urging CK Hutchison to reconsider its involvement, according to commentary from Ta Kung Pao.
- The Panama Canal, key to international trade, was handed over to Panama in 1999, and 4% of the world's maritime trade passes through it.
166 Articles
166 Articles
Beijing Puts Its Thumb on Panama Canal Deal - Conservative Angle
News Analysis Beijing is meddling in a pending sale of port rights from a Hongkonger-owned company to a U.S. business consortium led by BlackRock, according to a China expert. The deal announced on March 4 involves 43 ports in 23 countries. However, two ports—Balboa and Cristobal—in the bundle receive disproportionate attention because they are at the Panama Canal. The seller, CK Hutchinson, is owned by Li Ka-shing, an iconic billionaire in Hong…
Beijing Puts Its Thumb on Panama Canal Deal
News Analysis Beijing is meddling in a pending sale of port rights from a Hongkonger-owned company to a U.S. business consortium led by BlackRock, according to a China expert. The deal announced on March 4 involves 43 ports in 23 countries. However, two ports—Balboa and Cristobal—in the bundle are receiving disproportionate attention because they are at the Panama Canal. The seller, CK Hutchinson, is owned by Li Ka-shing, an iconic billionaire i…
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