Hong Kong’s CK Hutchison Holdings has said it would be impossible for the controversial Panama ports sale to proceed under any illegal or non-compliant circumstances after mainland China’s market regulator asked the parties involved not to circumvent an ongoing antitrust probe into the deal last month. Monday’s statement, the first directly issued by Li Ka-shing’s…
Hong Kong’s CK Hutchison Holdings has said it would be impossible for the controversial Panama ports sale to proceed under any illegal or non-compliant circumstances after mainland China’s market regulator asked the parties involved not to circumvent an ongoing antitrust probe into the deal last month. Monday’s statement, the first directly issued by Li Ka-shing’s…
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…
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….
The Hong Kong firm whose management of two ports at either end of the Panama Canal sparked US President Donald Trump’s ire flouted the conditions of its contract, an audit by Panama’s authorities found on Monday. The audit found “many breaches” of the concession awarded to a subsidiary of ports giant CK Hutchison to operate…
A decades-old concession giving Hong Kong-based CK Hutchison Holdings control of ports at either end of the Panama Canal carries deep constitutional consequences for the country’s sovereignty, two lawyers challenging the contract have told the Post. The action, filed by lawyers Norman Castro and Julio Macias with the country’s Supreme Court, targets the law that…
A sale by Hong Kong-based CK Hutchison of its overseas ports, including two in Panama, to a BlackRock consortium continues to stir debate as to its eventual outcome. China has expressed unhappiness, suggesting the deal would hurt national interest, while CK Hutchison has said the transaction is purely commercial. In a two-part special, we speak…
CK Hutchison Holdings’ decision to sell its port operations in the Panama Canal and elsewhere was aimed at mitigating geopolitical risks even though the conglomerate framed the deal as a purely commercial move, analysts and sources have said, as they urged Hong Kong’s other major companies to also prepare for unparalleled uncertainties. The company founded…
CK Hutchison Holdings’ decision to sell its port operations in the Panama Canal and elsewhere was aimed at mitigating geopolitical risks even though the conglomerate framed the deal as a purely commercial move, analysts and sources have said, as they urged Hong Kong’s other major companies to also prepare for unparalleled uncertainties. The company founded…
(Reuters) – CK Hutchison stock gained more than 22% on Wednesday after the Hong Kong conglomerate sold a majority stake in a $22.8 billion ports unit, including assets along the Panama Canal, to a group led by U.S. buyout firm BlackRock. The sale includes 90% of Panama Ports Company, which has operated the Balboa and…