China’s foreign ministry has urged all parties in the controversial sale of CK Hutchison Holdings’ overseas ports to “act prudently” and stay in touch with Beijing amid a report that the Hong Kong conglomerate’s two Panama Canal facilities may be separated from the deal. Foreign Ministry spokesman Guo Jiakun said on Monday that authorities had…
Mainland China’s market regulator has warned CK Hutchison Holdings and other parties involved in the controversial sale of the Hong Kong conglomerate’s overseas ports not to circumvent an ongoing antitrust probe into the deal, with some parts of the transaction reportedly set to be split up. The warning from a spokesman for the State Administration…
What’s next China’s market regulator has not revealed the details of its antitrust probe such as whether it has started investigations and the scope of its assessment. Lawyers have said the regulator may implement anti-monopoly measures, such as prohibiting or conditionally approving the transaction. According to the deal between CK Hutchison and BlackRock, both parties…
The world’s biggest container shipping line, MSC, is also likely to become the largest port operator across the globe if it succeeds in taking control of 41 facilities from Hong Kong’s CK Hutchison Holdings, further reducing the number of firms running terminals, industry experts have said. Geneva-based MSC, which is the first container carrier to…
A deal by Hong Kong-based CK Hutchison Holdings to sell all its overseas ports to a consortium led by US firm BlackRock has taken a fresh twist, with the revelation that the new majority shareholder will not be American, but a low profile Italian-Swiss family with ambitions to control global shipping. Sources told the Post…
US investment firm BlackRock, which is leading a consortium seeking to buy 43 ports from Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings, aims to take control of its two strategic Panama Canal facilities, while Italy’s wealthy Aponte family will have a majority stake in the others, the Post has learned. A source close to…
Li Ka-shing’s CK Hutchison Holdings has defended the contract that has allowed it to run two ports at the Panama Canal since 1997, saying the concession was “validly executed and approved by law” and denying it failed to pay more than US$1 billion to the country, as had been claimed in a sweeping financial audit….
A senior United States official has discussed the importance of an ongoing audit of CK Hutchison’s management of two ports at the Panama Canal with the country’s foreign minister, amid controversy surrounding the Hong Kong company’s sales of the facilities. Panamanian authorities announced their audit of Hong Kong tycoon Li Ka-shing’s CK Hutchison in January…
A high-stakes deal for control over two of the Panama Canal’s most strategic port terminals has hit a wall of geopolitical and legal resistance, with mounting pressure from China and a constitutional challenge in the Central American country delaying its signing, potentially derailing the agreement. Hong Kong-based CK Hutchison had been set to finalise the…
(Photo: Panama Ports Co.) The chairman of one of the largest global investment managers says ports are as critical to future infrastructure of the global economy as data centers and power grids. BlackRock Chairman Laurence Fink in an annual letter to investors said that’s why the company spent 2024 transforming itself into a leader in…