Photo: Wikimedia Commons.
China has reportedly warned that it may move to block a proposed sale of CK Hutchison’s global port operations if its state-owned shipping giant, Cosco Shipping, is not included in the deal. The report, published by The Wall Street Journal (WSJ), cites unnamed sources familiar with the matter.
The transaction involves 43 ports across 23 countries and is valued at approximately $22.8 billion, including debt. CK Hutchison, controlled by Hong Kong billionaire Li Ka-shing, announced in March its plan to sell an 80% stake in its port business to a consortium led by BlackRock and Mediterranean Shipping Company (MSC), one of the world’s largest container transport firms.
According to WSJ, Chinese officials have communicated to BlackRock, MSC, and CK Hutchison that if Cosco is excluded from the deal, Beijing would consider steps to block the transaction. While the companies involved have not issued public comments, sources say they remain open to including Cosco in the agreement.
However, the parties face a tight deadline: July 27 marks the end of the exclusivity period for negotiations between MSC, BlackRock, and Hutchison.
The proposed sale has also drawn international attention, including from former U.S. President Donald Trump, who has repeatedly expressed concern over China’s influence near the Panama Canal. He referred to the port transaction as a possible “claim” over the strategic waterway when it was first reported.
* Original text in Spanish. Translated by Large Language Model (LLM) technology.
Main Source:
China Threatens to Block Panama Ports Deal Unless Its Shipping Giant Is Part of It – WSJ
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