US EditionCK Hutchison to sell unit operating near Panama Canal under Trump pressure
- CK Hutchison Holding will sell its controlling stake in a subsidiary operating ports near the Panama Canal to a consortium including BlackRock Inc. For nearly $23 billion, amid concerns of Chinese influence in the area.
- The sale grants the BlackRock consortium control over 43 ports in 23 countries, including Balboa and Cristobal ports at the Panama Canal.
- U.S. Secretary of State Marco Rubio pressured Panama to reduce Chinese influence over the canal, leading to Panama's exit from China's Belt and Road Initiative.
- This transaction is deemed significant for U.S. Interests regarding canal security, with Ryan Berg of the Center for Strategic and International Studies calling it a 'huge victory' in the competition with China.
41 Articles
41 Articles
Hong Kong firms sells major Panama Canal ports to US firm after Trump pressure
The sale is "wholly unrelated to recent political news", a managing director said but was welcomed by President Donald Trump who said his administration "will be reclaiming" the Panama Canal.
CK Hutchison stocks jump 25% after sale of Panama ports stake
HONG KONG: Shares in CK Hutchison soared 25 per cent in Hong Kong on Wednesday (Mar 5) after it agreed to sell its lucrative Panama Canal ports to a US-led consortium under fierce pressure from US President Donald Trump. The firm owned by Hong Kong billionaire Li Ka-shing said it would offload a 90 pe
Firstpost News
India Shipping NewsPanama Canal now effectively under American control as Hong Kong-based firm agrees to sell its stake
The transaction, which must be approved by Panama's government, does not include any interest in a trust that operates ports in Hong Kong, Shenzhen and South China, or any other ports in China
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