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…
Beijing’s top office on Hong Kong affairs has fired another warning shot over CK Hutchison Holdings’ Panama ports deal, reposting a sixth critical article which urges the conglomerate against acting “in concert with US hegemony” and to avoid making “historic mistakes”. The Hong Kong and Macau Affairs Office reposted the latest piece on Sunday, which…
Washington is “not surprised” that Beijing is unhappy about plans by tycoon Li Ka-shing’s CK Hutchison Holdings to sell its two Panama ports, the US State Department has said, after a Chinese market regulator launched an antitrust investigation into the deal. “We are aware of the comments made by China. It’s also no surprise that…
Beijing’s offices overseeing Hong Kong affairs have signalled their anger at tycoon Li Ka-shing’s CK Hutchison Holdings for the fourth time by reposting a news article which accuses the company of not maximising its profits in the “unusual deal” to sell its Panama ports to a consortium led by US firm BlackRock. The Hong Kong…
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…
As scrutiny mounts over Hong Kong-based CK Hutchison’s sale of its Panama ports, experts say there is a patent lack of legal tools governing commercial transactions that authorities can use to stop the deal and they are highly sceptical the national security legislation will be invoked. But the conglomerate owned by tycoon Li Ka-shing’s family…
China has sent a senior-level delegation to Panama at a time when relations have been clouded by developments surrounding the Panama Canal, a move seen by observers as an attempt to “understand what is unfolding” and possibly reverse the situation. According to Chinese state news agency Xinhua, a delegation led by Ma Hui, a vice-minister…
Hong Kong authorities should designate the Northern Metropolis as a “special zone” with a separate approval mechanism to speed up development, the city’s sole delegate to the nation’s top legislative body has said. Starry Lee Wai-king, a member of the National People’s Congress Standing Committee, also discussed mounting criticism of CK Hutchison Holdings over its…
Sharp Chinese criticism of CK Hutchison Holdings’ sale of its port assets near the Panama Canal to a US-led consortium has thrown a potential wrench into the deal, with pressure piling up on the family of Hong Kong billionaire Li Ka-shing to rethink the divestment. Analysts said the deal was not final yet due to…
(Bloomberg) — Supply Lines is a daily newsletter that tracks global trade. Sign up here. Most Read from Bloomberg CK Hutchison Holdings Ltd. shares plunged Friday after China’s top office on Hong Kong issues reposted a sharp attack on the conglomerate’s decision to appease President Donald Trump by selling its stake in Panama ports. The…