Hong Kong’s CK Hutchison Holdings has vowed to pursue all possible legal action, both domestically and internationally, to protect its interests, calling Panama’s move to take over its two ports unlawful. The conglomerate, led by the family of Hong Kong tycoon Li Ka-shing, issued the warning in its second statement in a week after the…
A deadline for exclusive talks on a US$23 billion sale of global port stakes by Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings passed without a deal on Sunday, with analysts expecting complex negotiations to be extended amid intense US-China geopolitical rivalry. The controversial transaction involved CK Hutchison selling stakes in 43 ports, including two…
The sale of global port facilities to U.S.-based investor BlackRock and Mediterranean Shipping Company by Hong Kong’s CK Hutchison could be blocked by China, unless shipping company Cosco is included, according to a Wall Street Journal report citing anonymous sources. Hutchison said in March it planned to sell its 80% share of port terminals through…
CK Hutchison Holdings needs a war chest to maintain its fiscal health in the face of escalating geopolitical tensions, its chairman Victor Li Tzar-kuoi has said, with senior managers assuring the US$23 billion deal involving two Panama ports will comply with regulations. At the conglomerate’s annual general meeting on Thursday, Li said that many uncertainties…