Beijing has signaled its displeasure over CK Hutchison Holdings’ agreement to sell its majority controlling stake in Panama ports to a BlackRock-led consortium, sending shares in the Hong Kong-based company sharply lower.
A commentary by Chinese state-owned Hong Kong newspaper Ta Kung Pao criticized the deal, saying it would result in the Panama Canal being used for political purposes, restricting China’s shipping and trade. The opinion piece cited unnamed individuals critical of CK Hutchison as saying the sale is “profit seeking” and a move “betraying and selling off” all Chinese people.
